Was approached by landman representing Continental Resources about leasing my minerals in Section 4-3S-3W. $500 an acre for 3/16th royalty. Has anyone else had interest this section/township/range? $500 seems low.
Continental is leasing heavily in the area. They do have some leases at 3/16ths and some at 1/5 so ask for more royalty. Rock Creek Ranch Ltd has some at 1/4th. Quantum Resources has many at 1/5th. It would be very advisable to get an attorney to look at any draft lease as they are rarely in the mineral owner’s favor and will need some critical edits. The bonus amounts are lower this year due to competition. They are not as important as the royalty in the longer scheme of activity.
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