Good Afternoon…yesterday I received a letter from Antero Resources wanting to enter into a lease agreement for some mineral rights I guess I own. On 28 gross acres, they are saying my interest (net acres) are 0.07796. They offered me $300 lease bonus with 14% royalty payout. My siblings were offered the same thing. I am not sure who the other parties are that own the rest of the mineral rights but I assume it is my great grandmothers family.
Here is my question…the lease says 5 years with the option to extend indefinitely. How do I go about changing that? The lease bonus seems low but it is for a small amount of the property. Is that a fair offer?
I live in Oklahoma and never knew about this parcel until yesterday. The Tax Map and Parcel is 2-6-12. How do I find out if there has been successful drilling in that area?
I thank you in advance for the help.