I received an offer from Redbud Properties for 500/acre 1/5th royalty 3 and 2 term. Is this consistent with others in the area? Sec. 2 9N 10W
The nearest offer that I know about is in sec 35 just to your north where the offer was the same. However, I would not go with a three and 2 year option. Too long! If you have not leased before, it is a wise idea to get a good oil and gas attorney look at any draft lease and make proper edits.
Use the magnifying glass to search on Redbud in the Caddo thread to see what other comments have been made.
I just received an offer to lease my minerals from Rosebud Resources for $550/acre and 1/5 royalty for my property located in 10N 10W. What are offers in this area going for?
Offers will vary according to the perceived value of a section and what the market will bear. You can ask for 1/4th and see what they say. Bonus will be lower of course. Citizen Energy II and Classic Resources are also leasing in the area, so you might see what other offers show up. Get good legal counsel regarding any lease. The draft leases are generally not in the mineral owner’s favor.
We received $600 at 1/5. Dean
This topic was automatically closed after 90 days. New replies are no longer allowed.