I'm new to mineral rights leasing. I recently received a request from Okie Energy to lease mineral rights in 31-20n-2e for $300 per acre and 15%. Anyone know what the going lease rate is in area? Is anyone familiar with Okie Energy?
$300 per acre lease is probably about right but the producing royalty is usually given as a fraction such as 3/16, 1/5, or 1/4. Most companies give 3/16 which would be 18.75%, 1/5 would be 20%. I believe that there are some fairly recent producing wells in that section. There are several companies leasing in Payne county. Call some others and ask them if they are interested in leasing your minerals.
Here is what they were ordered to offer in the pooling for 28-20n-2e You also need no deduction and depth clause in your lease or wait for pooling.
Thanks Ron, this is very helpful. You suggested contacting some of the other companies leasing in the area. I'm not from the area and have no knowledge of the companies leasing in the area. Can you offer some suggestions? I welcome suggestions from other members as well. Thanks again.