I recieved a lease offer in Creek county from a very small operator. They offered 50$ per net acre 3/16 3 years. I countered with 100$ a 2 year shut in clause and a no deductions clause. I was hoping to get 75$ They called me and sounded somewhat upset especially about the no deductions clause. I thought we made an agreement for 60$ even though they did not tell me what formation or how deep they wanted to drill it sounded like they wanted oil and I supposed shallow. So they sent me a new lease offer with the 2 year shut in clause, the no deductions clause which stayed the same but left out the 100ft. depth clause. So I called the land man who was a different person than the first and he sent me a new lease offer with 100ft. depth clause and a 2 year shut in clause, the no deductions stayed the same but they forgot the first page bonus offer. Shouldn't all these pages be numbered page 1 of 1 and 1 of 5 ect.ect. ? Does anyone know if the mississippian formation is there and how deep it may be ? What is normally allowed in a no deductions clause and what is normally deductible? I have not heard back from them for a couple of weeks and wonder if they just gave up. I'm Still willing to negotiate or I can wait because I know there is oil and gas there. E/2 SW/4 SEC. 26 T17N R9E 80acres
Answers to any questions or advice would be appreciated.
Hope this helps anyone else
Thanks, Brett Self