Hello - just found the website today. Reading through some of the posts, I have a lot to learn. I hold 80 acre mineral rights in Oklahoma County, OK. SW/4 Section 34-13N-1E. Tahoe Land Services contacted me with a bonus offer of $100 per acre 3/16th royalties. I made a counter offer in writing on March 24th but have not heard back from him. Now I know how he makes his money from reading other posts. Should I just hold tight or could I miss out?
Steven, There is nothing on the OCC website that indicates anyone has an active interest in that section. The land co. is most likely speculating with an eye for future profits if the section gets drilled at some point. The only thing you can lose out on now is the $100/ac. bonus if you don't lease and a well is not drilled during the term of the lease. If you hold out until an operator starts making plans to drill you will most likely get a much better offer. If you don't lease and a well does get drilled you still don't lose out because the operator is legally bound to pay all mineral owners regardless of if they signed a lease or not. It's a gamble either way you go 'cause you can't predict the future. I hope this helped without confusing you!
Michael, Very helpful information! My biggest concern was that if I did not accept their offer, they could bypass me in someway. Ok, now I only have to learn how to predict the future!
Thank you for the help.
Steven
Michael Hutchison said:
Steven, There is nothing on the OCC website that indicates anyone has an active interest in that section. The land co. is most likely speculating with an eye for future profits if the section gets drilled at some point. The only thing you can lose out on now is the $100/ac. bonus if you don't lease and a well is not drilled during the term of the lease. If you hold out until an operator starts making plans to drill you will most likely get a much better offer. If you don't lease and a well does get drilled you still don't lose out because the operator is legally bound to pay all mineral owners regardless of if they signed a lease or not. It's a gamble either way you go 'cause you can't predict the future. I hope this helped without confusing you!