A landman has contacted me wanting to lease our acreage in 31-18N-21W of Ellis County, OK. Is $1500/acre at 1/5 a reasonable ask here? No offer from them yet but this is what I’m considering asking for. No current permits or poolings in this or adjacent sections online that I can see yet. What is the going range for bonus in this or adjacent sections? Anyone else receiving offers here? At what terms? Thanks!
My siblings and I inherited 30 acres each in Ellis County, OK. So together we have 120 acres. It is not leased. We would be interested in leasing or selling depending on the offers. I am on a trip. I will have to look up the exact location of the acreage.
Mick I am seeing mineral sales of $2250 to $7500 in Roger Mills and Ellis - they are playing the Granite Wash and the “Cherokee” - So leases ought to be up to $2,500 or so, 1/6th leases seem to be common with 1/5 not unusual.
I see mostly 3/16ths leases with a few 1/5th. Winding River, Greenhead Resources and Pinson are leasing in the area. Blake, Hog and Valpoint have horizontal permits just to the west in 18N-21W. You can ask for $1500, but it might be high.
We own mineral rights in Ellis County 21,18N, 21. My mom sold the surface rights to the nature Conservancy years ago. She has passed now and my sister and I still have the mineral rights. We are looking to sell the mineral rights to about 80 acres in that area. Was wondering on the price per acre.