McClain County Okla Leasing proposal

Most offers start low and have some room for negotiating. If they offer 3/16ths, I always ask for what they are offering for 1/5th and 1/4. I would rather have a higher royalty if I think there is a good chance of drilling. I take the shorter time frame as who knows what will happen in five years. Many of the leases in that section have been at 1/5th (20%) or 22%, so the 3/16th is low.

There is an excellent notice put out by the Oklahoma Corporation Commission for mineral owners. It explains force pooling. Pooling Order Information

I like pooling in many circumstances.

The clauses in the lease are much more important than the bonus. The draft lease they offer is all in their favor and not in the mineral owner favor. However, many of the clauses can be negotiated.

1 Like