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Oil/Gas/Washita County, OK Lease Offer



If you are offended I apologize, I am in a position where I have a little over five acres in Washita county, OK  which was leased previously for a large ammount, now the company Chesapeke let the lease expire without contacting us. I contacted chesapeke and confirmed they are not leasing mineral in my section 23 nor 25. Therefore, Osage has contacted me, and offered 400 per acre with 1/36 royalities if they drill and indeed find oil. Is this the going rate, or should I wait a few months to release it?
Thanks for your advice.

The "Instructions from the Expert" you (hopefully) read prior to submitting your question explains that I really prefer and need a legal description in order to answer questions regarding lease offers or bonus amounts etc, because they are "location specific" in a lot of cases. Please resubmit your question with a legal description so I can locate these if you want a more detailed answer. Suffice to say though, if you are anywhere south of the 10N township, then $400/acre is probably about the going rate these days. Further north (northern part of the county) you could probably do better.

Hope this helps you out.
Frederick M. "Mick" Scott CMM RPL
The Mineral Hub  


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Frederick M. Scott


Oil and gas leasing, lease negotiations, how to best deal with the oil and gas companies or their representatives, buying/selling mineral rights, forced-pooling, correlative rights, deeds and conveyances, and "post-production" costs. I am most experienced with Oklahoma properties and laws, but am able to answer questions concerning other oil and gas producing states in many cases.


I am a Certified Professional Mineral Manager (CMM) certified by the National Association of Royalty Owners (NARO) in Tulsa, OK. I am also a Registered Professional Landman (RPL) with the American Association of Professional Landmen (AAPL). I have managed my family's oil and gas properties in Oklahoma for over 10 years and have dealt with many landmen, title analysts, attorneys and other oil and gas professionals in the process. I have written several articles which have appeared in various oil and gas industry magazines and newsletters. I have negotiated and drafted leases, prepared deeds, affidavits, and other legal instruments relating to my own minerals, as well as performed title, legal research, and curative work for same. I have acquired a good deal of knowledge on the subjects of oil and gas law, mineral appraisal, and landwork over the past ten years, and also worked as a professional landman and lease buyer for a time. I've seen the business from "both sides" and therefore feel confident I can help out most of the folks who ask questions in this forum.

National Association of Royalty Owners (NARO); American Association of Professional Landmen (AAPL)

National Association of Royalty Owners "Action Report" (ROAR); NADOA Magazine, The Mineral Hub, Landman Magazine, and several royalty owner association group's newsletters.

Certified Mineral Manager (CMM), Registered Professional Landman (RPL)

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