My mother-in-law has 40 acres in Blaine County, Section 19-T19N-R12W that hasn't produced in a long time. I think there is at least one capped well. Recently she was contacted by two different firms wanting to lease the 40 acres of mineral rights for a 3/16th royalty and a lease bonus of $2400/acre. We are just looking for any advice as we are new to these types of dealings. Thanks in advance.
If you're new to minerals, my best advice to you is to hire someone to advise you. An oil and gas lawyer or a mineral manager will help you get the best deal possible, and the money you spend on the front end to get a good lease will pay off in spades later. If you need referrals you should ask the Blaine County group for a good attorney or mineral manager.
New well in sec. 20 came @387 bopd and over5 million/day gas, get some good help as you need a good lease
Your in a for a great payday but, hire someone to help you.