I have an offer for 21-9N-12W, Caddo Co., OK. The terms for the lease are $500 per net mineral acre with a 3 year term and 3/16ths royalty.
Is there any activity going on at this location and is this a fair price.
Who is offering?
There is a horizontal well permitted for Sec 28 just to the south of you. It was force pooled for $500 and 3/16 or $0 and 1/4, so your offer is in the right ballpark. You need to decide if you want the bonus or the increased royalty.