Has anyone been offered a lease by Riverbend Minerals Section 13 & 24 9N 4W. They are offering me $500 an acre for 3/16th? Is that the going price?
First offers are usually low to final offers. Always ask what they are offering for 1/5th and 1/4th.
The last pooling was in 2015 in section 7 and was for $900 3/16ths, $750 1/5th and $0 1/4th. By Charter Oak
There are several companies leasing in the there, so if you have only one offer, more are out there. They are definitely offering 1/5th and 1/4th.
Several months ago I leased in Section 4-5N-4W for $1,600/acre and 3/16.