Section 22-9N-4W

I have a lease offer at $1500 and 1/8 per NME or $825 and 3/16th for3 years plus a 2 year option or a outright purchase at $4000 per NME. Is this a good price or a lowball offer. I am new to this and need some advice

Welcome to the forum.

There are several companies leasing in 22-9N-4W. So make sure that your name and address are properly filed in McClain County courthouse with the county clerk so the landmen can find you. Also make sure any title documents that passed the minerals to you are also filed.

Regarding your first offer, I never do a two year option. I also always ask for what they are offering for 1/5th and 1/4. Some leases have already been filed at 1/4. If you are new to mineral ownership, do not rush into anything. You can use the Mineral Help tab at the top to get an intro, There are several other good references. The Oklahoma Corporation Commission has several good pamphlets. There is a primer called “Look before you Lease” by Jim Stafford. It can be found on the NARO (National Association of Royalty Owners) website www.naro-us.org or sometimes on Amazon.

You may get other offers to lease. I would suggest that you get legal help to look over any draft lease as the first copy is most likely not in your favor. Also, OK has pooling which can also be advantageous. OCC has a booklet about it.

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