Hello & Help please:) I received a lease offer for $1,700.00 acre & 3/16th royalty for a 3 year term plus 2-year option. This is all foreign to me if this is a good offer, another uestion after reading this very informative forum, my letter is from a contract landman, with only his cell number & only a P.O. Box. Thank you for any advice & your time. Corby
No
A lease has been filed in section 28, 12n, 05w, for 22.5% of the well. Go to this site, and call the county, get a login and password and start digging, http://canadiancounty.org/. If you're willing to do the research I am sure you can get a better deal.
We have a lease in T 12 R 5w S 31. Sub lease and did not get a lease offer.
Never do the two year option. Always ask for 1/5th and 1/4 royalty options. Do not accept the lease terms they offer without understanding them. Most likely you will need to change several clauses. You do not want any post production costs whatsoever, no enhanced, nothing. You need a depth clause, do not warrant title, no two year exemption, limit the shut in time to two years, need commencement of drilling clause, etc.
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