I was just offered to lease my mineral rights in 16N 20W and want to know if anybody has recent offers or has taken a lease?
I should have been more specific. Dewey County OK Section 10 16N 20W. First offer was $750 3/16 three years. Any feedback would be appreciated.
Welcome to the forum. I moved your topic to Dewey County. There is at least one lease in 10-16N-20W taken in April 2025. It was for 1/4 royalty which is much better. The bonus is lower, but that is expected. It was by Core Resources. Probably for a horizontal well in the future. If you have not leased before, it is wise to get a good oil and gas attorney to review any draft lease as they are rarely in the mineral owner’s favor and need some very specific edits.
The 2025 lease in 10-16N-20W taken in April must be for the west side of the section as my family owns the east half. My family would rather have a larger bonus than 1/4 royalty, maybe, if we know how much the bonus was. Do you know and if so please advise. Thank you.
Bonus amounts are not public information. The closest you might come is a pooling order in an adjacent section in the past year.
Most mineral owners would prefer the higher royalty because a higher royalty for a producing wells for many years can far outweigh the one time bonus that you only get once and then you are stuck with the lower royalty for the life of the wells. Small amount of cash right now versus much better cash over many years. Not guaranteed of course.
Do you mind me asking what company made you the offer?