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Old 06-29-2008, 02:24 PM
 
Location: Hughes County, Oklahoma
3,160 posts, read 9,496,336 times
Reputation: 1114

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That's quite a bonus per lot. They must think there is a lot of oil or gas under your land. Good luck, Synopsis!
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Old 07-08-2008, 07:39 PM
 
1 posts, read 5,764 times
Reputation: 12
Default Do I sign?

I just got an offer of 3/16 royalties and probably $150 acre signing.

The signing could be up to $1200 an acre (I need to clarify). There are 8 of us that own part of the mineral rights and I need to clarify whether the signing was $150 total or my part.

The mineral rights are in McClain county. I was told many years ago that there was oil there.

Should I be asking for more?
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Old 07-08-2008, 07:41 PM
 
1 posts, read 5,764 times
Reputation: 12
I received an oil, gas and mineral lease offer for 125 acres in Lee County Texas. The offer was $150.00 per acre. Oil has already been found in Giddings Texas near our property years ago and is still producing. Someone showed me an offer they received in Marshall Texas for $500 an acre. What is a good price?

Last edited by selectlady; 07-08-2008 at 07:44 PM.. Reason: had to add a word
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Old 08-20-2008, 01:53 PM
 
Location: Pawnee Nation
7,525 posts, read 14,540,277 times
Reputation: 7000
I don't know exactly where, but down near McAlester a fella just leased his 200 acres for 2 years at $1,700 an acre.
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Old 09-26-2008, 11:07 PM
 
1 posts, read 5,461 times
Reputation: 12
Default Help!

New to this oil and gas leasing. Have property in Pawnee County, Oklahoma have been offered $35.00/acre for a 3 year lease and 1/6th royalty. What do I do?
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Old 09-28-2008, 09:31 AM
 
Location: Fort Worth/Dallas
11,878 posts, read 32,917,927 times
Reputation: 5539
With the Barnett (sp?) shale underneath us here in the mid cities area of DFW, our neighborhood association (not one of THOSE NAs, but one specifically for negotiating a better lease agreement) negotiated a $20,000.00 per acre signing bonus.

Although we only own 1/3rd of an acre, that's still more than $6K we will get in about two weeks. In addition to that, they negotiated for better royalties. The neighborhood association is made up of a former Hurst Mayor and other city leaders.

Hurst Neighborhood Association

I was amazed to find out that we all own the mineral rights to our property here in Hurst.
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Old 09-29-2008, 03:51 PM
 
Location: Pawnee Nation
7,525 posts, read 14,540,277 times
Reputation: 7000
Hire an oil reserve appraiser.......get someone who has experience reading the logs and knows production. Absent that, contact other oil companies and see what they will offer........
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Old 12-02-2008, 06:37 PM
 
2 posts, read 10,458 times
Reputation: 10
Default rebecca

We have property in Stuart, OK. Our mineral leases are expiring. How much should we lease them for? Presently they have not drilled on that property. BP is getting ready to drill there but our lease will be up first.
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Old 12-02-2008, 06:45 PM
 
Location: Oklahoma(formerly SoCalif) Originally Mich,
13,387 posts, read 16,197,803 times
Reputation: 4611
Quote:
Originally Posted by rebeccaannnichols View Post
We have property in Stuart, OK. Our mineral leases are expiring. How much should we lease them for? Presently they have not drilled on that property. BP is getting ready to drill there but our lease will be up first.
Double what ever they offer.
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Old 12-02-2008, 07:11 PM
 
2 posts, read 10,458 times
Reputation: 10
Default Rebecca

Why do you say double there offer. Do you know what BP is paying per acre
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