I am new to the forum, and Mineral Rights owner. Ive only signed one previous lease for exploration now Rimrock is wanting to drill. I’m not sure how to negotiate.
I’ve just been presented a lease for an inherited share from Rimrock Resources for 28-2N-2W Garvin County. They have installed a Horizontal Well named George 1-28 USH? Can anyone give insight about the location? My family lived there in the 1900’s and I was curious.
Does this area seem to produce quite a bit? I know Vertical depth 7,673 ft and total measured depth is 14,354 ft. Not sure if that matters to whats produced. Are there any helpful internet links?
As for the lease
Other family are wanting to elect 3/16 royalty $750 per net mineral acre with a 81.25% net revenue interest.
I thought about not taking a royalty bonus and collecting 25%.
What would be the best option please? There were 5 options on the form. One of them asking for 7 million which i sure don’t have. =)
Thanks for any help that can be offered because learning the ropes has been overwhelming.