Hello all,
My family was just propositioned by Continental Resources for a 3-year mineral lease for $1,200/acre. This is in Section 32. I was wondering if anyone could comment on whether or not that is a fair offer? I saw some within the forum that were higher but in different sections.
What’s the Township/Range?
Sorry about that, 1N 1E.
They usually offer a couple of options, less money for more royalty such as $1,200 for 1/8th, $1,000 for 3/16ths, or $900 for 1/5. Have you received offers from anyone else?
Three years, there is oil down there but, after my lease in the mid 90s I never received a check over a hundred dollars. That means that I am still leased to them as long as they produce. Please read the full lease. Sec. 321N1E.
What royalty were they offering for the $1200?
1/5. No offers from other companies.