We have some property in Scorio township (159 North 101 West), and we’ve just received a lease offer for a $100 an acre. We haven’t signed a new lease for some time, but this seems incredibly low. Any thoughts from anyone?
Lease offers come in pairs with a bonus and a royalty amount. The $100 without the royalty part is not helpful. The leasing is probably for horizontal wells, so if it were me, I would ask for the highest royalty possible even though the bonus might be less. Hunt has been the operator in the township, but the most current leases are being file by an agent. Not sure who they are working for.