Quality of offer?

Oil and Gas Leasing Help
1

I have been offered $1650 bonus per acre & 3/16 royalty with a 3-year lease on 5 net acres in 15-14N-6W in Canadian County. I will counter this offer, but can anyone let me know what is reasonable?

Thanks,

Margaret Lovell

2

I believe it is reasonable. We are getting 12.5% in Utah.

3

It seems fairly reasonable, since the pooling order 641175 for the section directly above yours, section 10, offered $1,400/ac at a 3/16th and $1,300/ac at a 1/5th. However, not too far away in section 33-15N-06W, pooling order 640683 offered $2,200/ac at a 3/16th and $2,000/ac at a 1/5th.

4

Thanks, Audie!