Our family received a lease offer from Mecca Exploration in October, but I thought the bonus was to low. They sent us a new lease with our rider for a 1/4 royalty, $500 acre with a three year term. We only have about 5 acres. Is this a good offer or should I hold out? The legals are W/2 of section 26, less the SW/4 SW/4, Block B-18. Thanks!
Our Family just least 40 acres in Ward County Blk 33, bonus lease payment $1200.00 per acre with 25% of the Hole. 3 years, no option. Landman leased it in Feb, and they have already assigned an oil company to it, Whiting Oil. Section 8, Blk 33.