I have received an offer to lease Section 9-139N-98W in Stark County ND. The leasing company is Murfin Drilling, Inc. Need advise on 2 things.
- Is anyone familiar with Murfin?
- They have given 2 options for lease. 1) $200/mineral acre bnus with a 1/8th royalty provisions. 2) $100/mineral acre bonus with a 1/6th royalty royaltly provision.
I have 3 other sections and section 2 is currently leased by Morningstar and have had activity there since 2010.
Im trying to get advise on the market value and if this is a fair lease. I feel like it is low but not sure what is happening in that area. Thank you in advance for your assistance