I just received two letters offering to lease my mineral acres in Beckham county, sec's 31 and 32, 11n, 21w.
The letter came from Plainview Oil Company, llc. Norman, Oklahoma.
Their offer to lease was:
no cash bonus with 1/4th royalty for a term of 5 years.
Their offer to buy was for $950 per acre.
Is this a good deal?
I see two new leases in sec. 28 and sec. 36. Sec. 28 leased for $1400 in 10/17/2016 sec. 36 leased for $2,750 in 12/08/2016. also anew well drilled by Atalaya Resources came in at 566 bopd and 2480 mcf .
No way would I sell for $950/A, LOOKS LIKE A GOOD AREA
would take 1/4 bonus and maximum on Forced Pooling. This leaves all other formations open.
I apologize for my lack of lease knowledge but I didn't understand your response. I thought a bonus was a dollar amount so a 1/4 bonus is new to me. I also didn't understand what the maximum on forced pooling means. If you get a second to educate me, I would sincerely appreciate it.