# Offer to renew lease
**URL:** https://www.mineralrightsforum.com/t/offer-to-renew-lease/19102
**Category:** McKenzie County, ND
**Created:** [December 20, 2012, 8:10pm UTC](https://www.mineralrightsforum.com/t/offer-to-renew-lease/19102 "2012-12-20T20:10:15Z")
**Posts on this page:** 4
**Page:** 1
### Author:  [@Penn\_Stohr](https://www.mineralrightsforum.com/u/Penn_Stohr)
#### Post date: [December 20, 2012, 8:10pm UTC](https://www.mineralrightsforum.com/t/offer-to-renew-lease/19102/1 "2012-12-20T20:10:15Z")
I just received an offer to renew a current lease, the location is T149N, R103, Sec 32 SE1/4, S1/2NE1/4 and Sec 33 SW1/4NW1/4, NW1/4SW1/4. The lease is currently with Kodiak which expires in March 2013. This is through Diamond Resources and their offer is: $750.00 per acre, 17% royalty for 3 years, with Pugh clause. The net acre is 16.
What has been the going offers in this area and does it seem reasonable? I have acreage in Richland County, Montana, some were leased through Diamond and it was a little unsettling.
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### Author:  [@r\_w\_kennedy](https://www.mineralrightsforum.com/u/r_w_kennedy)
#### Post date: [December 21, 2012, 2:50am UTC](https://www.mineralrightsforum.com/t/offer-to-renew-lease/19102/2 "2012-12-21T02:50:59Z")
Penn, I didn’t see anything really close to your legal descriptions. The wells nearest by KOG and Slawson look marginal at best. If you are sure you have exhausted negotiations, I would say to take the money and run. If more wells are drilled that look like the two closest wells they are going to stop drilling. Make sure you get cash, cashier’s check and not a draft before you hand over an executed lease. I’m usually more optimistic, but I’m just not seeing it in your area.
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### Author:  [@Penn\_Stohr](https://www.mineralrightsforum.com/u/Penn_Stohr)
#### Post date: [March 13, 2013, 3:50am UTC](https://www.mineralrightsforum.com/t/offer-to-renew-lease/19102/3 "2013-03-13T03:50:42Z")
FYI follow up on the Kodiak lease we settled for 1000.00 per acre so something is going on in this area
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### Author:  [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [August 15, 2018, 3:02am UTC](https://www.mineralrightsforum.com/t/offer-to-renew-lease/19102/4 "2018-08-15T03:02:57Z")