I have a lease offer from Meadows Oil & Gas for Section 34, Township 2N, Range 12E and Section 27, Township 2N, Range 12E for 1/8 and $150/acre. Is there any other activity out there that I wouldn’t accept this? I would like to counter with a 3/8 royalty.
Meadows Oil and Gas was leasing in early 2020 for 3/16ths which is the next step up from 1/8th (2/16ths). 3/8ths is not common.
There may or may not be wiggle/negotiating room. But, proposing a 3/8 royalty is a waste of time. Absolutely no chance of them giving a lease for 37.5% royalty in Atoka County.
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