Help with Mineral Lease - Washita County, OK

My family has been approached to lease our mineral rights in Washita County, OK. Offers were $2k per acre at 3/16 royalty, $1k at 1/5 and $750 at 1/4 royalty for three years.

We currently have a lease with a company that expires in May 2011.

My concern is whether or not this is a fair exchange? Is this a hot area? Comments and knowledge from others with more experience would be greatly appreciated.



my family recently got offers for property in custer co, OK from chesapeake. where yours from the same?

I am on the east side of Washita County, OK and have minerals coming open now on May 19 and have had no offers. Unless you are close to Bessie or Cloud Chief drilling $2k sounds great. The big "C" company seems to be the only company in the market.

Would like to here more from you.

Bryan Vogt