Recently received a lease offer for interest in Sec 16, T2N, R6W. Wondering what, if any, activity is going on in that area or is planned for that area. Lease options are 1/8 @ $500 per, 1/6 @ $350 per or 3/16 @ $250 per. Been a while since have had a lease offer so not sure which one to look at. Any help is appreciated. Thanks
As of today, there has been no leasing, no OCC cases, no permits in that township in the last 999 days. Very quiet. You can wait awhile and see if they go up which may or may not happen. I usually never go below 3/16ths. If I know there is going to be drilling, I consider the higher royalty. If you have not leased in a while, it would be good to get a good oil and gas attorney to take a look at the draft lease. Those are usually not in a mineral owner’s favor and need negotiation.