I own less than 10 acres of mineral rights in Section 29 Township 8 North, Range 3 West in McClain County, Oklahoma. I recently received a call wanting to lease my property. They are offering a 3 year lease with 3/16th royalty and $350 bonus per acre or a 5 year lease with 3/16th royalty and $500 bonus per acre.
I have a couple questions.
- Are the offers competitive?
- I am not familiar with force pooling in Oklahoma. Can someone educate to Oklahoma forced pooling.
Your help will be appreciated.