Section 36 Roger Mills County, Oklahoma.
Does anyone know what a fair market bonus rate is?
You need to give the complete Section, Township and Range as there are many sections with the number 36.
Section 36 Township 15 N Range 26 W
Lease offers are not usually public unless someone on the forum posts what they have been offered. The closest you can come is the forced pooling order from the OCC that are supposed to be competitive with the eight adjoining sections within the last year. The closest section to you was section 25 pooled in early 2019. Oil prices were substantially higher back then, so current offers are likely to be lower. At that time, the pooling for 3/16ths was $400/ac and $0 for 1/5th. The bonus amounts are not nearly as important as the clauses in the lease which will probably need to be negotiated. They can hold your family for decades. First drafts of leases are not usually in the mineral owners’ favor.
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Who should new mineral rights owners talk to regarding clauses in the lease proposal?
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The best solution is to get a good oil and gas attorney that is licensed for the state in which you have the minerals. The same words mean two very different things depending upon the law and how it is read from state to state. There are several listed in the Directories above or you can ask knowledgeable people in your area for good attorneys.
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