Does anyone know what the bonuses for oil and gas leases are going for in Section 6-4N-7W and Section 31-5N-7W. We just had an offer for $400, 3/16, 3 years, 2 year option. We probably will not sign a lease with anykind of option.
Lou, We got the same offer on our Sec7 interest in 4N-7W some time ago. We do not want to give the option without a substantial increase in the bonus/ royalty. I am assuming your offer was from Calvin Energy?
Our family has mineral rights in Grady County at S17-T9N-R8W & S7-T7N-R8W. We were recently contacted by a landman from TODCO out of Norman, OK about leasing the mineral rights in the S7-T7N-R7W. Preliminary offer is for $450 an acre bonus plus 3/16. Anyone have any info about planned drilling close to our mineral rights?
Out offer was for $400,3/16, 3/2. They finally offered $500, 3/16, 3 yr lease. It was from Calvin Energy.
Was recently offered $350, 3/16, 3yr for S25, 3N, 6W. Countered with $500 and they took. A little too easy, should have pushed for more.