Our family has mineral acreage in Sections 32 and 33 of 9N-4W.
We have received an offer from T. S. Dudley for a 3/16 royalty lease for $450 per acre for a three-year term, with a two-year option at $450/acre if exercised.
Does anybody know of another company leasing this area or the adjacent sections of 8N-4W?
Thanks!
P.S. We’d be happy to hear from any Cooke/Cook cousins!
Cooke family, do not accept 2 year extension. In Township 8N, Range 4W and Township 9N, Range 4W, the closer to Grady County the minerals are, the better the bargaining power. Do not accept first offer. Here are a few companies to call: Energy Leasing-321-2370, Apache-756-8639, Vitruvian-756-1597, EOG-246-3100. Also, there are 4 clauses you need, read previous postings in McClain and Grady Counties for info on clauses.
Thanks!
We’re in the same area – had two other companies make larger offers but only Dudley followed through and the other companies had “closed the prospect” when I chased them down – ended up $525 for 1/5th 3 yr no extension with Dudley. As Kenny says, make sure you get the clauses in place and that you are happy with the entire lease. Have additional minerals in that area tied up with a lease from the 1980’s being held with production of about $20 every six months and still looking for the original lease sadly.