Received offer of $200/acre for 6-8N-9E, Hughes County, 3/16 royalty, 3 years with 2 year option from Stephens Land Co. out of Norman, OK. They offer $300 acre if they extend lease after three years. I recall I asked at this forum approximately six months ago if that seemed a fair offer. Because of Stephens delays in replies, I'm still in negotiation with them on lease. In more recent posts here I see $300-400 per acre bonus is an acceptable range for Hughes Co. Is the $200 offer on that particular parcel fair? Another option is I could ask for a 1/5 royalty with the $200 bonus.
I also sent a sheet of Ex. A clauses to landperson for her review, and she returned it with several clauses deleted, asking if I accept those deletions. She deleted the Commencement clause, Cessation, Drilling, and Reworking clause, Separation of Liquids clause, and part of the Limited Warranty clause (see attached). Could anyone here comment on whether the ones she deleted are "deal breakers" or not. Thank you in advance for any assistance you can provide.342-ExhibitAClausesforoilandgasleases_Changes.docx (15.8 KB)