Anyone familiar with leasing activity in KY? We own some minerals in Clay and Laurel counties, which have been dormant for some time. We have been told by a landman that $1/acre per year on the lease plus 12.5% royalty is standard.
We are very active in TX and OK so that seems really low, but maybe that is typical for KY.
Also, if we do not lease will we be force pooled at the highest paid lease as in OK? Or must the landman lease us to drill. He is looking to lease us on a fairly significant acreage. I'm just not finding much info on KY.
Any info would be appreciated!