My wife and I leased our mineral rights in Coal county OK just over three years ago. We received an eighteen thousand dollar lease signing bonus at that time. This was for 120 mineral acres (80 net acres.) Since that time I have received several comments on "you could have gotten more for them" Were we wrong to jump at the first offer that came along? We knew absolutely nothing about mineral interests at that time and are still intimidated by how little we do know. I ask these questions only so we won't make a similar mistake in the future
Vic and Anne Marie
This is a “wildcat” game much like going to Vegas or playing the stock market. There will always be those wanting to make you feel bad for being taken for so little. Brace up! you got more than average for a mineral lease. Just hope they drill and hit the big one!
At the time you signed, it may have been a pretty good offer. Like Thomas said, it is all a game of craps. It depends so much on timing, exact location, and how much information has been disemminated. Here in Colorado, EOG drilled a phenomenal well, and kept it secret so that they could cheaply obtain leases. Once it became public, prices skyrocketed. I’d venture to guess that those early signers are a bit miffed. If the opportunity arises again, now you know to use this forum to make a more informed decision.
Did they ever drill on your property?