“I am wondering if $350 an acre with 3/16 royalty is a good offer for a lease in Payne County Section 21 Township 18N Range 1W?” Does anyone have any idea?
I’ve been offered (probably no choice due to pooling) $200/Acre with 3/16 in 19N 3E for 3 year term; yours seems better than mine!
Thanks for the info Randy. That doesn’t seem right that you don’t have a choice because of pooling - I don’t understand the whole pooling thing. They are calling like crazy so I know they want it pretty bad. I think I will still push them for more money.
Randy M. Wilson said:
I’ve been offered (probably no choice due to pooling) $200/Acre with 3/16 in 19N 3E for 3 year term; yours seems better than mine!
You could get less cash and a 1/5th royalty if you wanted. Also Devon is getting active in 18N-1W so that might drive up leases if you have the nerve to wait and see.
Thanks for the info Ron!
Ron McKenzie said:
You could get less cash and a 1/5th royalty if you wanted. Also Devon is getting active in 18N-1W so that might drive up leases if you have the nerve to wait and see.