I just got a lease offer in Carter county for $300 pNMA and 3/16ths. Hasn’t been leased in 15 years. Any idea on going rates?
What is the section, township and range? There is a very active play in Carter, so need more info in order to comment as to whether you are in it.
Sec 9, township 5 S. R 3E.
3/16ths is probably pretty good if you are in 3E. If you are in 3W, you could expect higher royalties.
If you have not leased in 15 years, it would be wise to get a good oil and gas attorney to look at the draft lease as they are not in the minerals owner’s favor and need significant edits. The clauses are much more important than the royalty.
1 Like
Can you direct me to an online source for a good gas and oil attorney? Much appreciated.
You can try the Oklahoma bar association website. Look for specialty in oil and gas. You may need to call several as they may have conflicts of interest.