Does anyone know what the current lease rates are going for in Williams County? We got a lease contract in the mail randomly from a oil company offering $600 per acre for a 2 yr lease and 3/16 royalty.
It is for Township 159 N, Range 99, Section 9
Thanks in advance!
First offers are usually not their final offer. I usually ask for 1/5th and 1/4 rates. I also ask who are they leasing for, when will the well be drilled. If you have not leased before, it would be good to get an attorney to look at the lease as the draft leases are not in the mineral owner’s favor.
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