What is a fair price for an oil and gas lease on 5 acres near Tulsa Oklahoma?
We inherited 5 acres with mineral rights just south of Tulsa Oklahoma. An oil company wants to lease it for drilling. How much is a fair price for mineral rights in Oklahoma? They are offering $200 per acre on a 3 year lease.
Spend more time discussing the royalty share than the lease payments. Royalties is where the real money is made. Lease payments may bring a one time or nominal annual payment.
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