received lease offer from blue ribbon. $ 300.00 @ 3/16. I have minerals in 2-10-10 and 12-10-10. last lease was in 2011 and was paid much higher than this offer.
The price drop affected lots are areas since then. I find that first offers can be low to final offers. There are no new pooling orders in that township to test against. Cimarex and Continental leased in there extensively in 2011, 2012. Nothing new right now, so you might want to hold back a bit and see if the offers increase. Also read the most recent investor presentations from Cimarex, Devon, Continental, Newfield and Marathon and see if their maps have anything close to there.
Thanks any info will help. i acquired my minerals 23 years ago and really don't know that much as per leasing. is 3/16 normal for Oklahoma ? i live in Texas and a few people i have talked to said 1/4 was norm. here.
1/8th is always offered, but don't take it. I put 3/16ths in that category as well. I prefer 1/5th or 1/4th, but not always available. Texas does have 1/4th commonly. When the economics are thin, it is not offered in OK.
Joseph, I sent you a request.
We have min. in sec 10 T9N 12W Fusion Oil offered $300.00 A/C 3/16 anyone know anything about this company. and if there is anything going on in the area