I received an offer from Validus Energy II Midcon to lease minerals in 24-14N-16W. They’ve made an initial offer of $1,000 per acre (1/8 interest) for 3 years, $500 per acre (3/16 interest) for 3 years, or $250 per acre (1/5) interest for a 3 year lease. Anyone know of any activity in this area? I was considering making a counteroffer of $1000 per acre for 1/5.
Those are low ball offers. There is a Custer County Oklahoma CATEGORY here where you can get an idea of what people are currently being offered, which are also often low ball offers. Then if you decide to proceed, get a lawyer.
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The higher the royalty, the lower the bonus. If they are offering $1000 for 1/8th, you will not get $1000 for 1/5th.
Bonus amounts for leases are private information, so the only way to get some inkling of range is to look at pooling cases in contiguous sections within the last year. Unfortunately, there are none. But there are two pending pooling cases. 2024-002996T and 998T for Citizen which are pending. When those orders come out, you will get a feel for the current offers.
Go to the Counties tab at the upper left. I moved your question there for you. Welcome to the forum.