Received an offer from United Land Company on behalf of Silver Creek Oil & Gas. Offer is for 3/16ths royalty and $125 per acre for a three year lease with an additional two years at the end of the primary term for a bonus.
Two years ago, they (United Land on behalf of Silver Creek) sent a offer on the same land for a 3/16ths royalty and $250 per mineral acre. At that time, I rejected the offer and countered…which they ignored.
Has anyone else received an offer to lease in 22-7N-8E. It doesn’t strike me as a very attractive offer, but perhaps that’s the going rate for that area.