I’ve been sent a lease for Section 13 from Chesapeake Exploration/Lowry Land with an offer for $400 an acre. I asked NARO and they said the average bonus in Caddo is between $500 and $2500. Is this true? The lease also shows 160 acres in the language but the cover letter only mentions 8.75 acres for a total bonus on $3500. Is this normal to have a discrepancy between the lease acreage and the bonus acreage? Should I negotiate to a higher bonus/acre and shouldn’t the lease only be for the net acres versus all the 160 acres?
I believe my brother negotiated 2,500 per acrea in section 17 with sm energy. But this is a big play so I am not sure about your section.
For a 3/16 royalty, the range you mention is approximately correct, depending on location in the Woodford Shale play. Personally, I would ask for double what they offer, and see how bad they want it.
The 160 acres mentioned is not a discrepancy. Oil and gas leases almost never mention your "net mineral acres", but rather the gross acres in which your undivided interest lies.