For comparison’s sake, remember that these are 3/16 leases auctioned off by the State of Oklahoma.
The tabulations doesn’t mean the CLO has accepted the bids. Also, there is no real comparison as very few mineral owners would ever put their minerals up for an auction to lease.
Fair points-- obviously you have to know what these tabulations are, their significance, and how to use them. But a good percentage of the board understands that.
The low prices are best to ignore or contextualize especially if they’re in an unfamiliar county, and for the high lease bonuses, you need to know exactly what is being auctioned. All that said, after pooling orders, the CLOO auctions are the best source of public information we have on what operators are willing to pay. More importantly, unlike pooling orders, these auctions occur at more frequent and more regular intervals.
My point is that CLO or any other auctions are not considered as “fair market value”.