I have received a lease offer for Sec31-15N-20W for a small nma I own. It is from Rock Creek Land and Energy. It’s one with 3 different options:
$300 per nma 3 yr term with 2 year extension 3/16th royalty
$200 per nma 3 yrs + 2yr extension 1/5 royalty
0$ per acre 3 yr term with 2 yr option 1/4th royalty.
I never do 2 yr options. But any information on this area or what one thinks I should ask for would be appreciated. Any advice. Thank you.
The offering of the two year extension indicates nothing immediate is pending. There are no current leases and no current regulatory applications in the whole township, so if it were me, I would wait until something substantive starts to happen. This would be a good time to get a good oil and gas attorney to look at the last lease you had or this draft lease and make suggestions for improvements.
Thank you. As usual you are always there for advice. God Bless.
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