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.