We are receiving some offers to lease our land in Roger Mills County Oklahoma SEC 25-15N-24W. Is there anyone else receiving offers in this area? Is there drilling activity in the county right now? We received offers from Presidio and Grayton in the past 3 months. The last offer was 2000 per acre 3/16 royalty/3yr and 1850 per acre 1/5 royalty 3/yr. Has anyone else received better?
Welcome to the forum.
There have been at least 10 leases filed in 25-15N-24W in the last three years. The county has active drilling. Four permits are listed in 15N-24W with one rig on location in section 1.
Most savvy royalty owners would prefer the higher royalty as over time, the production royalties would make far more money than the bonus amount. The clauses in the lease are the critical issue. The draft lease is almost always in the operator’s favor. Recommend that you get a good oil and gas attorney to review the lease and make more mineral owner friendly edits. You do not have to lease, as you can wait for forced pooling which has its own pros and cons. Get familiar with the OK Corporation website and its publications for mineral owners.