Oil Lease Offer - Campbell County

Hi. I received a final lease offer of $150 pma for two (2) years and $250 pma for the remaining three (3) years with a 20% royalty. This lease is for 44 acres in 47N 74W Section 2 in Campbell County, Wyoming. This offer is considerably lower than our previous lease in 2015 for $550 pma. Considering the current oil climate, is this a fair offer? Should we reach out to other companies and what happens if we don’t sign? Our lease expired in October, 2020. I would appreciate your assistance.

Try going to Counties at the top of this page, select Wyoming and then Campbell County. If you will post your question there you will have a better chance of getting an answer on your specific area. You can also look at the previous posts in that part of the site for discussions that might help you.