Haven’t leased in Woodward since 2008.
Received this offer: 3-21N-17W, 3.479168 acres. $250 per acre, 3/16, 3 yrs.
Appreciate any input on going rates/terms in or close to Section 3.
I haven’t heard of any leasing in Woodward County since oil has slowed down. Back when things were good, it was from 150 to 700. I don’t know if any wells are being drilled near you, that makes a difference in bonus.
That is pretty low for the area. Not too far from here we took 1,750/acre at 1/5th royalty a few weeks ago. We had a larger position though meant they had majority of the Section for operational control though.
Mineral Steve,
Are you in the far SE part of the county?
I think they are hitting some good wells in Blaine County and coming on in to Woodward County. But, haven’t heard anything else going on. My husband owns most of a section in far SW and they haven’t paid anything like $1750, but his lease will run out this coming year.
That is low.