Can anyone give me an idea of the going rate for an Oil and Gas lease in Lincoln County, Oklahoma? I have inherited 80 net mineral acres and have received a request to lease, but the initial offered Bonus amount per net mineral acre and the Royalty rate are lower than what I am receiving for a similar lease in Carter County, Oklahoma.
Steve, if you would give the section, township and range of your minerals I would be happy to check pooling's in your area to get a range of lease prices. I would suggest you join the Lincoln County group and ask the same question there.
Richard,
Thank you, it is Section 6, Township 16 North, Range 04 East. I will join the Lincoln County group as soon as possible.
Steve I checked pooling's on the OCC website around your area. American Energy just pooled 5-16N-4E and prices were $300 for 1/8 and $250 for 3/16 and that was this month. The other pooling was in 32-17N-4E which is the section just North of you in 10-2014 by American ,same prices except they offered 1/5 at $100. I just recently had a lease offer from American in 16N-6E and they were at the same prices but would not offer 1/5 at all so I called Blue Dolphin and received 1/5 with the clauses I wanted on my lease. Good luck in getting a lease.
Steve,
Lincoln and Carter are apples and oranges. I've seen 3/16 bonus' in Lincoln ranging from $50 to $250 this month/
P
Thanks all for the information.