If I have a 13.3334 net mineral acre interest in Logan County, Sec 8, Township 18, Range 3W, (SE/4), and a big company like Devon wanted to lease, what kind of Bonus would I expect? Is it paid per mineral acre? Please help.
The bonus is paid by mineral acre. You should get something in the neighborhood of $400/ac with 3/16 royalty or higher since the play is getting established. I just got $550/ac and 3/16 just a couple of miles west of you. DO NOT go for the 1/8 royalty. See if you can get 20% or 25% royalty. If you are new to this, you need to take your time. Devon will eventually end up force pooling, so you can wait until then and pick the best option. Read the forum, go to the MINERAL HELP at the top and read the tips about leasing, go to the Garvin county page and read the Links for Mineral Owners. Read the forum and grab the NMAcalcuations worksheet I just posted yesterday. There will most likely be multiple wells here, so you need to look at the long term, not just what they are offering now. Better to take a lower bonus and a higher royalty. Only get the bonus once. The royalty will be for many many years.
If you decide to lease, do not take the lease they send you as gospel. Everything is negotiable. Be sure and get a vertical and horizontal Pugh clause, a two year limit on shut-in royalties, strike the warranty clause, and make sure you have gross and not net for the gas clause. NO post-production costs.
http://imaging.occeweb.com/AP/Orders/occ5039351.pdf
http://imaging.occeweb.com/AP/Orders/03042F0D.pdf
Sec 8- 18n-3w looks to have been pooled twice . If they are still trying to lease you they must have missed you in the pooling .
There is also a completed well that has been in production since late June. API 3508324090
Here is the completion report showing 54 Oil and 442 Gas.
http://imaging.occeweb.com/OG/Well%20Records/1DD17BEC.pdf
You might get some numbers from the OTC, but more than likely they don't have them yet. They usually tell you to submit a request for the info with payment and it takes 2-6 months to send you what they have. I'd say it is still too early anyhow. 3rd party companies will be 4-6 months out as well.
I found Enkich on the pooling order . Did they sign a lease or make an election under the pooling ? I found no lease in that name .
I posted link to pooling above . There is a good chance they could drill more then 1 well .
Ralp Harrison in Kingfisher County is who I use. Hes with Harrison and Mecklenburg. He's an old frat brother of mine at OSU and negotiated a $1000 an acre lease in Kingfisher county. He deals with all of the brokers and can make sure you get a good lease. In Guthrie I know Jeff Hirzel who can also do you a good job. Unless you know somebody in the business or can get help (detailed) on this forum, an attorney is money well spent in my opinion.