Just recently inherited mineral rights in Cleveland county and I am reading as much as I can. I have been offered $50 and 3/16ths for just under 7 acres - SEction 3, 9 North, 3 West. Any insight from other forum members?
I don’t see enough current activity that would make me want to lease mine if I owned there. More than likely it is some long-term speculation and I’d bet the lease also includes some language with option years which could burden it for 5 years or more.
You have to ask if $350 makes it worth regretting you signed the lease late. What if you start seeing others offered $1500 an acre 2.5 years down the road about the same time you see them exercise another 2 years on your lease for $50 per acre. It happens, and you can find examples here on this very forum.
Regardless, the entire terms of the lease contract are FAR more important than the Bonus/Royalty amount when you are talking about a $50 per acre lease. Your not leasing is not going to influence the decision to drill. In most cases the most you could lose by not leasing is $350.
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Agree 100%. Also, don’t be afraid to not lease. You cannot be left out of bonuses or royalties. There is a process called “Forced Pooling” which protects individuals who do not accept lease offers.