Lease Question - Woodward County, OK

Oil and Gas Leasing Help
1

My mother has 80 acres mineral rights in Woodward County, Oklahoma S20-22N-21W that have not been leased in years. I received an offer today from Mike Tibbets @ Land Services Inc in Blanchard Oklahoma to lease for $100 per acre for 3 years with 3/16 royalties. Is this a reasonable offer for this area?

2

Karen,

You might want to join the Woodward County Group and submit your question to those Forum members that have minerals in Woodward County.

http://www.mineralrightsforum.com/group/woodward-county-ok-oil-gas

3

Thanks for the heads up, Clint. I did get some information doing that.

4

It is not a bad price according to market. But you can also consult with a mineral industry consultant for this in your area. I think they will give you the right suggestion for this. And you can also join some communities for better response like:

  1. http://www.city-data.com/forum
  2. http://www.containmentsolutions.com/
  3. http://www.oilandgascommunity.com/forum
  4. http://petrowiki.org/PetroWiki
  5. http://www.oilandgascommunity.com/

I hope they will help you in resolving your oil tank sale issue.

5

Thanks for the info, Scott

KB