My family has 7 1/2 acre mineral rights in Custer County, OK. I was told by a landman that they will be pooling soon. We received two offers from Mewbourne Oil and Gas for a 3/16, $1200 acre bonus or a 1/4, $450 acre and 3 year term. Typically I go with the higher roaylty and opt out on the bonus, but I have not seen anything posted on the boards regarding this area. Any feedback would be appreciated.
Jim,
I manage 120 acres in 12N-17W about 20 miles south of you near Clinton. I worked out a lease with a producer there about 10 months ago in the range you are offered which was twice the original offer. We have some new gas development in the area but not on my land yet. However, my information tells me that there may be more activity in your area right now. With the multiple zones producing in the area you may want to consider opting for participation if its a slam dunk well. Check out the permits. If Melbourne (a good operator in my opinion) is not the operator of record you may be able to make a slightly better deal for less time. good luck