A couple of days ago, I gave the wrong location and I need to correct that today. My family has 8 acres of mineral rights in Sec. 4-7N-3W. We have received an offer to lease for $800 an acre for 3 years, with 3/16 royalty. I am new to this, and I am learning from all of you. Thank you.
Ask what they are offering for 1/5th and 1/4th. First offers are usually low to final offers. Lease terms are the most important. Read through the last few months of the forum to get advice about that. Or friend me with the blue icon.
EOG is pooling sec 5 (7N-3W) and sec 32 (8N-3W). These two applications have been recommended but the final order has not been signed. EOG has an emergency order allowing them to start drilling before the pooling order is approved.
Thank you for this info. My mineral rights are in Sec. 4, and I will be looking for more news like this.