Lease Request

My father passed away 11 years ago, he left my mother his mineral rights in Stephens County. Upon her passing 6 years ago the rights were passed to my brother and I. Received a phone call today from my dad's sister saying a land company was trying to get a hold of us regarding an offer to lease. I contacted them, gave them my correct information and am awaiting a letter. However, during the phone conversation I was told the offer was for a 3 year lease, 3/16 royalty, with a bonus of $300 per acre up front. I have no clue about any of this. I did find the mineral deed in some old paperwork, so it looks like I am talking about section 8, 2N 8W. Looks like my brother and I own 26.667 acres. Anyone know anything about this area? Any information is much appreciated!!

The only advice I can give you is to try and negotiate the amount of the bonus. In my case, I was able to get it up from 300.00 per acre to 500.00 per acre. This would be a 5200.00 bump in your case!

Good luck,

Zach Mann

Jill Chesapeake was leasing up into 2012 and was offering no cash and a 1/4th royalty in some sections next to you. It looks like Marathon & Apache are doing most of the leasing now. The only way I have of getting info on cash bonus is off pooling orders and I could find where none had been filed yet. If you want my # for questions send me a friend request and I will get it to you .