New to the McLain County Forum and new to leasing. My siblings and I have inherited mineral rights in McLain County, 34-7N-4W. Evidently a new well is already in and operating. Several landmen located us through county records and have offered lease agreements. We have been offered $4,300-$4,500 an acre with 3/16 royalty. Do any members of this forum know if this is a good offer? Thanks for any information and advice you might have!
I appears that you are doing the right thing, educating yourself before you sign up.
There is more to it than just the bonus $ and royalty rate. The terms of the lease, like disclaiming any warranty of title, are also important. Keep reading what folks have posted about lease terms, or better yet, consult a lawyer who knows oil and gas.
Thank you, Frank. I’ve appreciated your replies!