Does any one have an opinion on what would be a fair and reasonable lease option per acre for Love County, OK, Section 24? I am new to this and am not sure if the proposals I’ve received are fair or not. I appreciate your help.
DOUG-lots of section 24s. Please provide the township & range.
The offers will vary according to geology. So as mentioned, the whole section, township and range would be needed. The clauses in the lease are much more important than the dollar amount of the bonus amount. Read the Mineral Help tab above to get some ideas about do’s and don’ts. The lease clause they present you with will most likely need some negotiation to be more in your favor.
Thanks. Hope this isn’t overkill:
Section 24-8S-2E, 26.6146 net acres in the The North Half of the North Half of the Northeast Quarter and the North Half of the South Half of the North Half of the Northeast Quarter (N/2 N/2 NE/4 & N/2 S/2 N/2 NE/4), containing 60.00 acres more or less & The West 26.25 acres of Lot 2 (46.25 acres), including any accretion and riparian rights, containing 26.25 acres more or less & The South Half of the South Half of the North Half of the Northeast Quarter and the Southeast Quarter of the Northeast Quarter and Lot 2 (46.25 acres), Less and Except the West 26.25 acres of Lot 2, containing 80.00 acres more or less.