I have mineral rights in Dewey County , OK. section 22 16N-16W and would like to know the leasing price for a 2 years in that area. I’ve been offered $1200 per acre.
Most lease offers will be for three years, but you can get shorter time frames if there is about to be a pooling.
Several sections around you have pending pooling cases. Those will be the best answer to what the market is trending.
The closest to that was section 13 which pooled for $1850 3/16, $1500 1/5, $0 1/4 April 16, 2018.
I rarely take the first offer. Always ask for more. The clauses in your lease are much more important than the bonus money. The lease they put in front of you will likely need negotiation. I always look for NO post production charges, limit on shut in time, no warranty, no top lease clause, no option to extend, depth clause, commencement of drilling clause, no free use of my oil, gas or water, etc.
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