Lease offer for Section 9

Oklahoma Mineral Rights Grady County, OK
1

I received a phone call offering $1300 per acre for 3/16 royalty for Section 9 Township 5 North Range 5 West in Grady County. I don’t have an actual lease yet so I don’t know any terms. Does this sound right for that area?

Thank you

Jennifer

2

I am sure you will get responses from others however, what company made this offer and the $1300 seems low to me?

3

All I have written down is Paul from HPH.

4

Hi Jennifer:

That isn’t a bad offer, depending on the terms, as you say. Section 8, next door was pooled a year ago

for $1125/acre & 3/16ths by Continental. They drilled the Sisko well which is a good well, not stellar, but

good well out of the Woodford formation. I participated in the Sisko well with a little interest I own.

How many acres do you own?

5

If you have more than 50 NMA you should be getting 5k Bonus. If more NMA 40-70 - asking for more $ is reasonable. Also, go for 1/5 or 22.5 royalty. You will probably need to get a couple landmen bidding in order to get the price up. If just one guy they will try and steal it from you… (get a good deal for whoever they are working for)