We've been asked to lease 40 acres in Okfuskee County. Is it customary to negotiate the bonus rate, and what would be a fair amount per acre for a three year lease?
Okema, OK is the county seat of Okfuskee County. Is that where you were talking about?
thank you, I corrected the question
Thanks William, I wasn't trying to be the grammar police, just making sure we were talking about Oklahoma since sometimes other states have the same or similar names for counties. I don't know if you have already looked elsewhere on this site, but the bonus payment isn't the only term on the lease to negotiate, you may want to check some of the blogs on the home page of mineralrightsforum.com.
That said, Okfuskee County doesn't look like it is very active right now, so the terms will be lower there than in other area's like Grady County. There is an Okfuskee County group under the Groups tab at the top of this page. There hasn't been activity on that forum in a while, but often if someone starts making comments and asking questions, the other members of the group will join the conversation. Your county group page will probably be able to give you the most help in terms of market prices in the area. Good luck!