I received a one year lease extension offer from Windridge Oil and Gas, LP for $100 an acre on Township 164 North, Range 92 West, 5th PM Section 31 and 32 in Burke Co, ND. Although we have other producing wells in the area leased by Petro Harvester, it appears that Petro Harvester has sold this parcel to Windridge and rather than offer me a new lease, Windridge wants to extend the Petro lease.
I have searched the forum and it seems to me that $100 an acre is very low for the 40 acres I own. Is it worth holding out for a better offer, or will I lose the offer if I ask more? I have negotiated leases before, but not an extension lease. Any help will be greatly appreciated. Vicki