I recently received 15 acres from my aunt in Love County. Its all in 6S-2E. I'm starting to get lease offers from companies but not sure what a good price is. Does anyone know what a fair offer would be. Not sure.
Hi, J. Jordan:
Last March I leased 40 acres for $250/acre and 3/16. At the time, I was completely ignorant, but if given the opportunity, I would seek more money and/or a higher percentage than 3/16. Some people advise to wait until forced pooling takes place, whereby several options may be available. If pooled, you MUST act in a timely manner before the pooling closes; if you wait too long and the pooling closes, then you will be stuck with whatever the least favorable option that was offered.
You can call the Oklahoma Corporation Commission (OCC) at (405) 521-4456 and ask if any pooling has taken place in your particular section. If so, one of the kind ladies will email you a copy of the pooling document.
What offers have you received?
Take care,
Charlie
Jordan what sec are your in ?