Section 2 T7N R3W

Oklahoma Mineral Rights McClain County, OK
1

We have minerals in this section and have been offered $150/acre, 1/8th royalty for a 3 year term. We feel this is way too low but we're also active in other counties and have nothing to compare this to. We typically ask for 1/4 and will here as well but we'd like to know what the average bonus rate is in this area. Anyone have suggestions?

Thank you

2

In my opinion, it's too low. I've recently received two offers on my acreage in the same section. One for $250/acre and one for $300/acre. Both with 3/16 royalty. 3 year term.