What happens if I decide to not sign an oil lease

1-15N-17W does not have any OCC cases at the moment. Although quite a few nearby. There is a permit for a horizontal well into section 2 just to the west of you. I do not see any current leases filed in section 1, but quite a bit nearby. The range of offers is from 3/16ths to 1/4th, so I would say 3/16ths is on the low end.

In OK, you can choose to lease or you can wait for forced pooling. You must answer the forced pooling within 20 calendar days or you will be assigned the lowest royalty which is usually 1/8th and not optimal. If you can get a really good lease with an agent, that is the best, but some companies are difficult to work with and then pooling is a good option in OK. Most of us would pick the highest royalty option given as many years of a productive well or wells far outweighs the one time bonus payment for the lower royalty.

In Ok, the pooling acts as a sort of court appointed lease so that all mineral owners are accounted for before drilling. This article may be helpful.
0_The Pooling Process in Oklahoma.pdf (340.4 KB)

If you are offered a draft lease and want to go that direction, it is wise to get a good oil and gas attorney to review it as the drafts are rarely in the mineral owner’s favor and require quite a bit of negotiation and editing.

Other states have completely different rules, so the answer to the question would be different according to their guidelines.