I think you will be able to beat that offer. Most of the leases are up to twice that much if a well if near the property.
Regarding depth clauses, it means they can only go to a certain sand depth, say X sand was 4500ft, they can't go any deeper, anything below that would have to be a new lease with another bonus.
Pooling clauses mean, most of the horizon wells are spaced on 640, but their are a few with less acres. If you only own a few acres in this 640 and you don't want to lease, the OCC will let the company pool you and you may not get 3/16 and you would lose the bonus. Lets say, you own 320 of the 640, a oil company has leased everything except you 320, then they can not pool you, Not sure what % has to be leased now as it does change. But, small acres can easily be pooled.
I have property in Garfield, Noble and Logan and I think they are planning on drilling everything up. I haven't been to the farm since last fall, but I know several wells have been drilled and truck are messing up the roads real bad. One question I have? Is MM Engery drilling horizonal wells in that area? I wasn't aware MM did H. wells.