Received Lease Offer in 05-05N-01W


#1

We have been offered: Bonus consideration equal to $500 per net mineral acre - 3 year primary term and 3/16 royalty in the 05-05N-01W area by RedSky Land LLC. Is this decent offer? Sounded kinda low compared to some of the others in the area.


#2

That is in the ball park for the area. That section is under a revised pooling order that lasts until Dec 14, 2018. Were you previously pooled? The original pooling in 2016 was $200 3/16 and has been extended twice. The new offer sounds good, but you may be held by a previous order. Check your paperwork and any notices from the OCC. If you have not gotten any or just inherited, private reply to me and I can point you in the right direction.