Notice of Hearing on 6/26/18 in Grady County - Oil & Gas Lease - Section 30, 9N, 5W

For those interested, attached is the Notice of Hearing regarding an oil and gas lease for some of my family’s land in Grady County on Tuesday, June 26, 2018, at 10:00 a.m., in Chickasha. As you can see in the notice, the land is Restricted Indian Land. The current offer is a $5750 bonus per net mineral acre, with a 3/16 royalty, for a 3 year lease. The Department of the Interior, Office of the Field Solicitor, had a Market Value Appraisal completed which indicated the market value of the bonus should be $7104 per net mineral acre with a 3/16 royalty, for a 3 year lease. The current offer is well below the Market Value Appraisal. During the hearing, a competitive bidding process will be conducted to give all those who may be interested in the mineral lease an opportunity to bid. If anyone knows of any prospective bidders for this lease, please share this information with them. Thank you.

GoingFox - Proof of Publication.pdf (496.2 KB)