I represent a charity that owns mineral rights in Richland County.
24N, 57E, 1
24N, 58E, 5
24N, 58E, 6
We have leased this acreage twice so far, with the most recent one expiring in April, 2017.
The offer is from a broker representing Whiting. It is for '5 year lease for $400.00 per acre and a 18.75% royalty. I would be happy to provide a pugh clause and a shut-in gas clause for the lease.'
Any feedback on this offer would be greatly appreciated.