I was recently called about minerals in Sec 30 15N 18W Custer Co OKlahoma. He was mostly seeking to buy instead of lease. Apparently there are some great new producers in the next township within a mile and others 4-5 five miles away. What are my chances to get 1/4 and what bonus could I expect with that. Also are PPD’s usually excluded with similar leases in this area. Are Pugh clauses ordinary for lease terms so it’s not shackled like the old lease was for decades. I don’t want to sell and I don’t know how hardball these play out and it will just let it go to pool.
Welcome to the forum.
There are new permits in your township about five miles to the east. And a new permit two miles to the south of you. The highest lease I see in your township so far has been at 20%. Bonus amounts are not public. If you have not leased in a while it is beneficial to get a good oil and gas attorney to help with the edits of the draft lease. The draft is not in the mineral owner’s favor and will need no post production cost language, Pugh clauses, and about ten other more favorable clauses. You may lease with the operator or a third party or you can wait for pooling.
Thank you for your insight. The minerals were previously had by Duncan Oil for decades. So long so that new generations are sorting through negotiations that originated with our grandparents and great uncles but now we’re of grandparent age. It will be a fun and interesting experience for some of us. Others not so much. I’ve saw where a pool order included 1/4 no bonus option but I don’t know if it would be considered close and comparable to our location.