I own a small mineral interest in Section 5, Township 5N, Range 1W. 1.94533 acres leased at a 3/16 and I just got a letter from Charter Oak that they had to extend their pooling and are paying lease bonuses again and there are options on what I want to elect. Obviously I’ll take the greatest royalty they offer, 3/16. I’ve had offers to buy my minerals. Does anyone know the going rate in my section especially since I know there’s a well going in?
Charter Oak just pooled 4-5N-1W for $250 3/16, so that is the going rate. Charter Oak just did an extension on their pooling in 3-5N-1W for $300 3/16 or $50 1/5, so that is the going rate just a bit farther away.