Lease Offer in Major County

am a member of a Trust with one fifth per acre ownership and we have received an offer in Major county Sec 9 Twn 21 Range 10. The offer is for $750 per acre,

Looks like most of the regulatory activity is in 6, 7. and 18 first now. When the pooling in section 7 is finished, you will have a better idea of how your offer compares to that. What royalty was offered for the $750? If they only offered 3/16ths, then ask what they are offering for 1/5th and 1/4th.

Hello everyone and any help would be greatly appreciated. I am trying to find out if an offer for mineral rights is reasonably fair.

Major county section 20 township 20N range 9W 80 gross acres, 10 net acres $1,500 per net acre for 3 years. 1/5 net mineral rights.

Thanks again.

Talk with the interested party and they want to purchase the mineral rights. All of the rights are owned by the trust along with 4 other owners my grandparentsts siblings. The total acreage is 320 acres, so the offer we recieved was for 64 of those acres. They are just interested in the rights no plans to drill so they said.

Personally, if they have no plans to drill, then they are trying to buy for a low price and will flip it for a higher price. They know something you don’t know. You guys have more power with 320 acres than 64. 9-21N-10W XTO is filing for horizontal in 6, 7 and Oklahoma Energy Acquisitions is filing in 12, & 13. If it were me, I would wait and see what develops over the next few months. First offers are usually low. Once the poolings come out on those sections, you will know if your offer is in the ballpark as they will be posted.

SteveP Oklahoma Energy Acquisitions just filed for horizontal well in 19 next to you on one side. Chisholm Oil and gas filed for horizontal well in 21 on the other side. That was for 20N-9W. I always ask for more. First offers are usually low.