My family and I recently received a lease offer from Jaketown Resources for mineral interest we own (approx 116 nma combined) of S9, T12N, R5E in Lincoln co OK. They have given us two options. The first of $150 nma with 1/8 royalty and the second for $100 nma with 3/16 royalty. I feel that this is a bit low. We leased this same property to New Dominion in 2012 for $175 nma with 3/16 royalty. As far as I know, there were no wells drilled during this lease. I have read here on the forum that some have signed leases in other areas of the county for the same amount and some higher. The Ok Mineral Registry site shows the average lease rate at $200 nma with 3/16 in Lincoln co. I have also been able to find out that there are two straight wells on the following sections, the first operating by Clayton Williams Energy, S15 T12N R5E to the SE of my section, producing 60 b/day oil and 25mcf ng, the second by Paul Gillham Oil, S17T12NR5E to the SW of my section, with no production. I am guessing that my lease offer is associated with this second well to the SW of my property. I have been in contact with Jaketown and they do not seem willing to negotiate this offers. This land has been in my family for almost 30 years with several leases but no production as far as I know of. All of our income has been from the signing bonus. I am relatively new to this as we have always followed thru with the advice of a family member who has recently passed. I am putting this out there in hopes of any additional information on Jaketown Resources/Paul Gillham Oil and the general leasing of mineral rights that would help me make an educated decision. Thanks.
Melinda Ryan