What would be a good oil and gas renewal offer on 4-3S-3W in Carter Co, OK? Not sure what to do, renew or not. Offer now $252 an acre with 3/16 royalty.
Well, it it were me and I had signed a draft lease from a company without any edits, I would not renew without really understanding what those clauses meant. Did you have a clause in the first lease that had an option to renew? If so, then you may be locked into the old lease clauses. If you did not have a clause to renew and the company just wants to renew, then it might be a good idea to get better terms and clauses. I always ask what they are offering at 1/5th and 1/4th to see if they have those options. If your old lease allows post production charges, that is a big red flag for me.
