Looking for a fair price per rod for an oil & gas Pipeline Easement & Right-of-Way in Ellis County, Ok. Sec. 35-17N-24W. I am being offered $360 per rod with a total of 96 rods. Thank you for any help in determining if this is a good price!
Check the University of Oklahoma and Oklahoma State websites to see if they have any agreements posted. That would give you a good idea if your offer is reasonable. Also, it would be a very good idea to get a good surface attorney to review the draft offer language so that you get good clauses for proper restoration of your land.
The checklist might be helpful only as a general guide. The rates in Texas will be different than the rates in OK. The laws in OK are different, so do not use UT as a template.
I think $360 per rod is reasonable. It is about 20% more than I received in 2019 and I did some looking around to feel comfortable with what I received. I did get the agreement changed to state that the 30’ easement was for only the well water disposal pipe that we were discussing. If the easement is 30’ then the full 96 rods would be just over an acre. Please check my math but that would be a pretty penny for an acre in Ellis Cty
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