I inherited mineral rights in several parts of OK from my mother. In the past month five different oil companies have reached out to us to lease the mineral rights of a 25 acre parcel for three years at $250 an acre and a 3/16 percentage in Cleveland County. Is there a lot of oil being found in this area? We have never been contacted about this parcel and then out of no where were were bombarded. Any insight what ti expect would be great.
What is the legal description?
Sec 16 T6N R1W
My mom and her sisters and brothers already signed the lease for three years stated above. I was just curious to see if there was a lot going on in Cleveland County due to all the inquires in the past month or so and what to expect.