Osage lease ofer

I received a lease offer from Osage in Okla. Co Sec 7-13N-4W. I have never done business with them and wondering if anyone has experience. They’ve offered: $200 /NMA at 3/16ths royalty Should I counter?

Yes,always go for 1/4 royalty and negotiate for double the initial bonus offer.

I always ask for what they offering at 1/5th and 1/4th just to see if that is an option.
If you have not leased before, it would be wise to have a good oil and gas attorney review the lease and make edits. The draft lease from most agents is not usually in the mineral owner’s favor and the lease will need some negotiation to get more favorable terms.

I received the same letter and a call. I would ask them when they expecting the pooling to be and if they plan to drill a multi unit. They haven’t extended an offer for a 1/5th or 1/4 so I told him to call back once he gets approval or I will just wait for the pooling… Which I most likely will do anyway. But yes, of course ask for more money as well.

I usually go with the pooling unless I can get a really good lease. At the pooling, I usually take the highest royalty.

This topic was automatically closed after 90 days. New replies are no longer allowed.