Pontotoc County Section 23 T-4N Range R7E

Oil and Gas Leasing Help
1

Aloha to All,

I have a question, I just received a letter from an attorney about buying the lease for this section. My questions are:

What is the going rate per acre?

What is a good percentage if they hit oil? 1/8, 3/16?

2

This is in Oklahoma.

I was offered $100 per acre

3/16 pay if they find oil/gas.

3

Tawnisa, I would stay away from offers of 1/8 royalty, as I know I wouldn’t be pleased with my royalty after I pay taxes.

4

Thank you.

r w kennedy said:

Tawnisa, I would stay away from offers of 1/8 royalty, as I know I wouldn’t be pleased with my royalty after I pay taxes.