# HELP! 24-18N-2W & 23-18N-2W Oil & Gas Lease Offer - Questions
**URL:** https://www.mineralrightsforum.com/t/help-24-18n-2w-23-18n-2w-oil-gas-lease-offer-questions/13763
**Category:** Logan County, OK
**Created:** [July 20, 2013, 11:23pm UTC](https://www.mineralrightsforum.com/t/help-24-18n-2w-23-18n-2w-oil-gas-lease-offer-questions/13763 "2013-07-20T23:23:07Z")
**Posts on this page:** 8
**Page:** 2
### Author:  [@IrishCal](https://www.mineralrightsforum.com/u/IrishCal)
#### Post date: [July 22, 2013, 5:18pm UTC](https://www.mineralrightsforum.com/t/help-24-18n-2w-23-18n-2w-oil-gas-lease-offer-questions/13763/21 "2013-07-22T17:18:43Z")
Ron, sent you my phone number in a private message :)
Ron McKenzie said:
> Are you going to send your # ?
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### Author:  [@Ron\_McKenzie](https://www.mineralrightsforum.com/u/Ron_McKenzie)
#### Post date: [July 22, 2013, 5:32pm UTC](https://www.mineralrightsforum.com/t/help-24-18n-2w-23-18n-2w-oil-gas-lease-offer-questions/13763/22 "2013-07-22T17:32:31Z")
yes i have called it three times
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### Author:  [@Mineral\_Steve](https://www.mineralrightsforum.com/u/Mineral_Steve)
#### Post date: [July 22, 2013, 8:13pm UTC](https://www.mineralrightsforum.com/t/help-24-18n-2w-23-18n-2w-oil-gas-lease-offer-questions/13763/23 "2013-07-22T20:13:53Z")
I would counter higher than 850. They will probably take 850. I know they have before close by.
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### Author:  [@IrishCal](https://www.mineralrightsforum.com/u/IrishCal)
#### Post date: [July 24, 2013, 3:54pm UTC](https://www.mineralrightsforum.com/t/help-24-18n-2w-23-18n-2w-oil-gas-lease-offer-questions/13763/24 "2013-07-24T15:54:48Z")
I think at $850 (going by my share being approximately 14.25 acres)....wouldn't that only be $12,113.00 signing bonus? That would also mean a smaller % of royalty shares right? I may be able to only get 3/16th with asking for a signing bonus?
From what I am gathering, the best bet may be $0 bonus and 1/4th royalty (based on gross proceeds, not net)? Everyone in the surrounding areas say that they are producing pretty well in the area....pooling may be a viable option too?
Mineral Steve said:
> I would counter higher than 850. They will probably take 850. I know they have before close by.
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### Author:  [@Mineral\_Steve](https://www.mineralrightsforum.com/u/Mineral_Steve)
#### Post date: [July 24, 2013, 8:21pm UTC](https://www.mineralrightsforum.com/t/help-24-18n-2w-23-18n-2w-oil-gas-lease-offer-questions/13763/25 "2013-07-24T20:21:01Z")
If the bonus amount is "only $12,113.00" then I think you answered your own question and should go for 1/4 no bonus.
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### Author:  [@IrishCal](https://www.mineralrightsforum.com/u/IrishCal)
#### Post date: [July 24, 2013, 9:35pm UTC](https://www.mineralrightsforum.com/t/help-24-18n-2w-23-18n-2w-oil-gas-lease-offer-questions/13763/26 "2013-07-24T21:35:49Z")
Oh, wanted to add in for everyone's info (and to maybe understand it better myself) what was disclosed on the letter from Nichols Energy Services (agent for Devon):
"proposes the drilling of the Frank 24-18N-2W 1MH Well in the referenced unit. The Frank 24-18N-2W 1MH Well is proposed as a 9,400' Mississippian horizontal test and possibly other potential formations. The proposed surface location is in the SW/4 SW/4 of Section 19-18N-1W with a BHL in the NE/4 NE/4 of Section 24-18N-2W." "Attached is our AFE which details our estimated dry hole cost of $1,655,500 and completed well cost of $3,934,300."
What the heck does all this mean and does this look good for mineral rights owners in Section 24???
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### Author:  [@newbie](https://www.mineralrightsforum.com/u/newbie)
#### Post date: [July 25, 2013, 4:06am UTC](https://www.mineralrightsforum.com/t/help-24-18n-2w-23-18n-2w-oil-gas-lease-offer-questions/13763/27 "2013-07-25T04:06:19Z")
If you are pooled they will list the different options and you can choose to go with one or split your acres. No bonus and 1/4 royalty was the highest royalty offered in the pooling for 22-17N-4W. The other choices were $850 bonus with 1/8 royalty, 750 with 3/16 or 650 with 1/5. But your pooling will be based on the leases are going for closer to your area.
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### Author:  [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [August 15, 2018, 1:31am UTC](https://www.mineralrightsforum.com/t/help-24-18n-2w-23-18n-2w-oil-gas-lease-offer-questions/13763/28 "2018-08-15T01:31:15Z")
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