I received an Oil and Gas lease for my mother’s mineral rights in SE/4 of Section 10, Township 15N, Range 1W. She is not in the best of health. I’m taking care of her finances and this is my first lease. Landman offered $102 per acre on a 3-year lease, but back in 1978 my grandmother received $75 per acre on a 3-year lease, 30 years ago. Doesn’t this seem unbelievable that there is only a $25 increase in 30 years?
Is this in Kansas?
No, Logan County, Oklahoma
John Jameson said:
Is this in Kansas?
It looks like Todco only recently started leasing in that section. My limited experience would say wait a bit. But that opinion would vary based on net mineral acreage she owns and her need for the money.