S27-8N-8W, Grady County, OK. Received lease offer. $500/NMA, 3/16ths royalty and a 3 year term. Would appreciate your thoughts on this offer. Is there anything going on in this area? We are next to the “Northeast Verden Unit” but from what I can tell, we are not included in that “Unit”. Thank you in advance.
Continental was leasing in that section and they filed leases at 1/5th. I always ask for the higher royalty options. Many first offers are lower than final ones, but not always. The draft lease they offer you will take some negotiation as it is not in the mineral owner’s favor.
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M_Barnes, Thanks for taking time to comment. Very helpful.
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