First Post here, so bear with me.
I've got an offer to lease on a piece of land I own the mineral rights in McClain County, OK.
Its in N/2 NW/4 of Section 30, T6N-R2W. They're calling it the Flint Creek # 1-30 in the Oil Creek formation. It's from a JSH Engineering Co. in Aurora, CO. Also the offer is to be sent back to a Continental Land Resources in Edmond, OK. And there is a cost breakdown from Charter Oak Production in Oklahoma City, OK.
So the question is, Which is better?
Lease @ $150 per Mineral Acre with a 12.5% Royalty (3year term)?
Or Lease @ $75 per Mineral Acre with 18.75% Royalty (3 year term)?
Thanks for your help.