The offer is $1750/ac for 3 years, 3/16 royalty with a 2 year option, , or $1400/ac,1/5 royalty for 3 years with a 2 year option. I am an out of state rookie, who would appreciate all the help he can get, particularly with respect to information re what is going on in our area. Thanks jack
What is a fair offer on a 3 year lease with a 2 year option on 19 NMA in Sec.4-7N-8W in Grady County?
In Section 4, the lessee/operator is most important. I'd grant a 5 year lease to an experienced operator and take the money up front and at least 1/5 with a pro landowner lease adaptable to horizontal drilling provisions and take payment before rendering lease and limit lease to acreage asked for. If you can risk the money, get a CPL evaluation of the net mineral acres but don't be in a rush to lease. The play will get to you eventually.
Gary L Hutchinson
Many thanks, Gary Hutchinson.