Stephens Energy is offering a lease in Logan County

We have been offered a lease for our mineral interest in Logan County, Section 9. It is a three year lease for $250 at 3/16th royalty. Does anyone have any thoughts on this offer? Any suggestions on how to improve the offer? Has anyone else done any business with Stephens before? Thanks.

Need to know the Township and Range for section 9 then would be able to look up the pooling's in the area around this section.

Section: 09-16N-03W.

Thank you very much.

Looked up the pooling orders from 16N-3W. There was only one current order for 1-16N-3W, 12-16 and it stated that $300 1/8, $200 3/16 and $150 for 1/5. I have no idea how many acs. you have but more you have you can negotiate for a higher price. Need to ask for 1/5 and if they refuse you can always wait for the pooling hearing.

Thanks for the information. Can you tell me the benefits in waiting for the pooling hearing? This is new to me and I am in the middle of a serious learning curve. I do appreciate any information you are able to provide.

I really think the offer is in the ball park according to the pooling's, which is only one add there has not been much activity in the 16n-3w area. If you are new to this you might go up and under forums heading on the main page and read the area on leasing help, it will give you certain things you might want to add to a lease if the lease does not cover it. With everything that is happening in Logan County it would be my advice to get a 1/5 royalty for sure because there may be more then one well drilled. If you have a bunch of acs. in this lease it may be advisable to get a oil and gas attorney to help with the lease. There are plenty of people in this group who will help and advise you thru this process. It is to your advantage to get the best lease possible with clauses that will help you the royalty owner.

I have 51 acres. Not a boatload, but certainly enough to be prudent and careful. I will take your advice and hire a professional. Thanks again.

51 acres of a 640 acre unit is a lot. You've have some power. That said, Logan is pretty quiet, so like Richard I don't think the offer is totally unreasonable. If it were me I would pick my fight over terms as opposed to the bonus. I would also try and get a 1/5 even if it means less bonus money.