Just got offer for $750 per acre lease bonus, 3/16, in 12-16n21w in Roger Mills. Any one know what offers have been for mineral lease in the area recently? Any help is appreciated.
Welcome to the forum.
That township has been quiet for a while. There is a new play developing in the Cherokee shale. The township to the south has quite a few leases with 1/5th and 1/4th royalty, so it is always good to ask what they are offering for those royalties.
If you have not leased in a while, it is wise to get a good oil and gas attorney to review any draft lease as they are rarely in the mineral owner’s favor and need significant edits in order to save you money in the long run. NEVER hand over a lease without getting paid the same day. Your attorney can hold the signed lease until payment is made. You do not want a lease filed at the courthouse without having the bonus in hand. You can also wait for forced pooling which has its own advantages.
Only one lease has been posted in the last 24 months in this township, so very early in the process. The closest pooling orders in the last 12 months are in the township to the south and they were for much higher bonus amounts. First offers tend to be a bit low to test the market and see who will bite.
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Thank you for the info. I always sit on these offers; I’m in no hurry. I’d be interested to know what company. They wouldn’t tell me, But looks like Crawley and Mewbourne are pretty active to the south, and Adparo just finished one.