I received a phone call offering $1300/ per acre for 3/16 royalty for Sec 9 5N 5W in Grady County. I don't have an actual lease yet so I don't know any terms. Does this sound right for that area?
Thank you
Jennifer
I am sure you will get responses from others however, what company made this offer and the $1300. seems low to me??
all I have written down is Paul from HPH.
Hi Jennifer:
That isn't a bad offer, depending on the terms, as you say. Section 8, next door was pooled a year ago
for $1125/acre & 3/16ths by Continental. They drilled the Sisko well which is a good well, not stellar, but
good well out of the Woodford formation. I participated in the Sisko well with a little interest I own.
How many acres do you own?
Todd M. Baker
If you have more than 50 NMA you should be getting 5k Bonus. If more NMA 40-70-- asking for more $ is reasonable. Also, go for 1/5 or 22.5 royalty. You will probably need to get a couple landmen biding in order to get the price up. If just one guy they will try and steal it from you.... ( get a good deal for who ever they are working for )