Just received our first lease request from liberty resources $300 an acre for four years 3/16% royalty on producing not sure if I should wait they’re giving us a deadline of November 25 any insight from anyone else would be helpful
Welcome to the forum. You need to give a complete description with section, township and range. You are missing the township.
Personally, I would not give a lease longer than three years, always ask for the 20% and 25% option to see if they can do that and I don’t like to get pushed on a timeline. Always wise to get an oil and gas attorney to look at any draft lease as they are rarely in the mineral owner’s favor and need significant edits.