Received an offer from Continental Land Resources out of Edmond to lease in Sec 5 - 4N - 9E for $300/ac., 3/16th royalty. Anyone have any info on lease bonus rates in this area? Thanks.
Hi Will,
I've received the same offer. I've also contacted Great Sky in Edmond regarding leasing this section (my rights are in 30-5N-9E).
I have rights in section 5 - 5N 8E and United Land Company offered me $200 an acre then went up to $250 with a 3/16th royalty. They told me that was as high as they would go so who knows. I haven’t signed anything yet.
Just an update. I called Continental and they offered $300 an acre to me as well then when I told United they matched it. Several people have told me thats about the going rate in this area for a bonus.
Thank you. I think $300 is about it for now, maybe if someone makes a well nearby the bonus will go up. Thanks, again.
Jimmie Madron said:
Just an update. I called Continental and they offered $300 an acre to me as well then when I told United they matched it. Several people have told me thats about the going rate in this area for a bonus.
Have you signed a contract and Have they paid you yet?
No, I did not take their offer.
Darlene Pohlman said:
Have you signed a contract and Have they paid you yet?
I received a lease offer in 4N 9E recently. Did anyone find out who the operating company is that will be drilling the wells? Anyone else still hear of activity in this area?
Sec 11-7N-11E. I've received an offer for $600 3yr/ 3/16. They always ask for extensions and we always refuse. What is the going rate?