Hi everyone I was wondering if anyone has had any offers on section 32 for leasing I’ve gotten a offer of 2750 ea acre for a 3 yr lease please give me some help please
You need to give the complete section, township and range. There are many section 32s in Grady.
Yes I apologize it totally slipped my mind Grady county section 32 9N 5W I was also wondering about section 31-9n-5w
You need to mention that royalty that went with your offer as the amounts change with the royalty. If that was for 3/16ths, then I always ask for 1/5th and 1/4 numbers. The bonus is usually not that important in the long run. A lower bonus and a higher royalty usually pays far better.
Camino has a well pending in 31. The last time it pooled in 2017, the amounts were $5400 3/16, $5300 1/5, $1000 22%, $0 1/4. Oil prices are different now, so the offers will probably be different.
Many of us do not sign the lease as given to us as a draft as it is mostly in the company favor. We add an addendum that includes clauses to protect us such as no post production costs, limit shut in time, depth clause, commencement of drilling, etc.