I received a lease offer w/ Recon for Stephens County Sec26 2S 4W : $2,000 per nma w/24.00% royalty.
There is definitely activity in this area. I would not take the first offer. I have 24-3S-4W Stephens. It seems there are leases now going for 1/4 instead of 3/16. MAKE SURE it is not a lease that can be renewed. If they do not drill in the next 3 years you do not want to give them an automatic right to renew at this rate. I would hold out. V. Carter
I believe the offer to lease would not mean they can extend it unless they have it written in the lease. It would probably say something like they are leasing for 3 years with a 2 year option (to release at same price). Don't take any of the options to release according to those in the know on here from what I've read. It never hurts to ask for more money to lease your mineral rights. If you do it the right way (more flies with honey than with vinegar) you can still accept the lessor amount if you don't get some better offers.