We received a lease off in the mail on this section. Bonus is $300/3yr primary @ 3/16 royalty. Compared to past Hughes Co leases and our current leases in neighboring counties, this offer is quite low and generally we negotiate for a higher royalty. Does anyone know if this is comparable to the going rate? What activity is happening here - has there been a pooling order issued or is the section awaiting pooling? Thanks for your help!
You usually have to ask for the higher royalties. I see several 1/5th leases posted within the last 24 months. They will have lower bonus amounts. Bonus amounts are not as high this year, but depends upon the area. Would not expect Hughes to be very high.
No current OCC cases in that township.