we have an offer for a new lease on sec 14, T8N, R7W. Current lease expires in a month. There is no production on property. New lease offer is a $900 bonus and 3/16 royalty. Within the past 6 months we have leased other property in Grady County with bonuses of $1,250 and royalties of 1/5.
Any comments/advice on new lease terms for S14, T8N, R7W would be appreciated.