around 159-98 section 27 area ? Also does the leasing company have the right to extend the lease at the same rate for 2 more years.
Dale, only by reading your lease can you find out if the lessee/operator has the option/ right to extend your lease, if it's in there, it's in there.
It looks like Kodiak is displacing North Plains in your area, I think this is a good sign. My oiinion on lease bargaining in this area is that they will offer 700-1,000 dollars per acre and I would counter $1,500 20% royalty, at all times unless they would like to give more.