# Leasing offers North of Ardmore
**URL:** https://www.mineralrightsforum.com/t/leasing-offers-north-of-ardmore/20303
**Category:** Carter County, OK
**Created:** [September 24, 2012, 9:44pm UTC](https://www.mineralrightsforum.com/t/leasing-offers-north-of-ardmore/20303 "2012-09-24T21:44:45Z")
**Posts on this page:** 8
**Page:** 1
### Author:  [@Jim\_Gigoux](https://www.mineralrightsforum.com/u/Jim_Gigoux)
#### Post date: [September 24, 2012, 9:44pm UTC](https://www.mineralrightsforum.com/t/leasing-offers-north-of-ardmore/20303/1 "2012-09-24T21:44:45Z")
I own a 1/3 interest in 132 acres across the road east from Dornick Hill Golf course. Had a call from XTO offering $650/acre, 3 year lease 3/16 royalty. Anybody know if this is a top offer?
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### Author:  [@Daniel\_A\_Thompson](https://www.mineralrightsforum.com/u/Daniel_A_Thompson)
#### Post date: [October 2, 2012, 5:39pm UTC](https://www.mineralrightsforum.com/t/leasing-offers-north-of-ardmore/20303/2 "2012-10-02T17:39:33Z")
There are a few things that should be in the lease.
One is a GROSS PROCEEDS CLAUSE vs a NEW PROCEEDS CLAUSE. The latter is in favor of the oil company charging the mineral owners for processing, marketing, dehydrating, compression, etc. at the well. This is to say they are deducting all these production costs from your royalty check.
Another clause that should be in the lease is a DEPTH CLAUSE. Under this clause unproductive ZONES (formations) must be released back to the mineral owner if drilling or exploration does not occur by a specified time. In other words you could lease these formations to another company.
If they found you, then your deed is probably in order, but others may have issues with their deeds and can hold things up.
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### Author:  [@Daniel\_A\_Thompson](https://www.mineralrightsforum.com/u/Daniel_A_Thompson)
#### Post date: [October 2, 2012, 5:49pm UTC](https://www.mineralrightsforum.com/t/leasing-offers-north-of-ardmore/20303/3 "2012-10-02T17:49:22Z")
Jim,
Could you include the Section, Township and Range?
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### Author:  [@Daniel\_A\_Thompson](https://www.mineralrightsforum.com/u/Daniel_A_Thompson)
#### Post date: [October 2, 2012, 7:30pm UTC](https://www.mineralrightsforum.com/t/leasing-offers-north-of-ardmore/20303/4 "2012-10-02T19:30:16Z")
Are you in Section 7, Township 4S, Range 2E?
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### Author:  [@Jim\_Gigoux](https://www.mineralrightsforum.com/u/Jim_Gigoux)
#### Post date: [October 2, 2012, 10:14pm UTC](https://www.mineralrightsforum.com/t/leasing-offers-north-of-ardmore/20303/5 "2012-10-02T22:14:41Z")
Dan, thanks for your reply. We are at our son’s in San Jose and don’t have access to the legal description here. Have asked Laura Williams one of the owners in Ardmore to reply for me.
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### Author:  [@Daniel\_A\_Thompson](https://www.mineralrightsforum.com/u/Daniel_A_Thompson)
#### Post date: [October 2, 2012, 10:15pm UTC](https://www.mineralrightsforum.com/t/leasing-offers-north-of-ardmore/20303/6 "2012-10-02T22:15:56Z")
I hope it is cooler up there than it is down here in Irvine, CA
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### Author:  [@Daniel\_A\_Thompson](https://www.mineralrightsforum.com/u/Daniel_A_Thompson)
#### Post date: [October 2, 2012, 11:11pm UTC](https://www.mineralrightsforum.com/t/leasing-offers-north-of-ardmore/20303/7 "2012-10-02T23:11:48Z")
Does anyone know the address for the XTO office in Ardmore?
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### Author:  [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [August 15, 2018, 3:24am UTC](https://www.mineralrightsforum.com/t/leasing-offers-north-of-ardmore/20303/8 "2018-08-15T03:24:16Z")