Oil & Gas Lease offer

Oklahoma Mineral Rights Lincoln County, OK
1

I have a lease offer: Re: Oil and Gas Lease Request Section 13 Township 15 North Range 3 East, Lincoln County, Oklahoma Legal Description: The Southwest Quarter of the Northeast Quarter (SW/4 NE/4) Gross Acres: 40.00 Net Mineral Acres (nma): 1.11111

The offer lists: Option 1 1/8 Royalty 3 year lease $80 per nma = $88.89 Option 2 1/6 Royalty 3 year lease $75 per nma = $83.33 Option 3 3/16 Royalty 3 year Lease $50 per nma = $55.56

There is no bonus. This seems very low, but I haven’t been active in McLean County in a long time. Can you please give me input if you are aware of leases being signed currently in this area. Thank you,

2

I apologize, this lease offer is for Lincoln County, not McClain.

3

You bonus amount is the amount offered divided by your NMA. I tend to go with the max royalty if you are inclined to lease. In OK, unless there is a spectacular OGL offer, then I prefer to wait until I receive a Pooling Application to start discussing an OGL. This method allows the minimum term and the best bonus/royalty combination. Good luck.

1 Like