Just received an offer to lease for $100 nma 1/8 or $50 nms w/ 3/16 th royalty. This sounds pretty low to me. Does anyone know the going sign in rate? Seminole Co, OK sec 31-7N-7E N2 SW/4 lease offer
I have minerals that could produce but any money is better than no money.
I always favor the higher royalty. Seminole is a small producer area with minimal activity. I generally wait for a proposal by one of the operators that I know are prone to developing the property. I give a little more time to some of the small producers that I know; otherwise, I wait for the forced pooling.