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Oil/Gas/Mineral Value Lincoln County, OK


We own 40 mineral acres in the NE/4 of Section 21/16N/5E in Lincoln County, Oklahoma. we are seriously considering selling said interest. We have no idea what a fair price would be. It was leased in early 2014 for $250.00 per acre with a 3/16 interest. Total bonus of $10,000.00 for 3 years. I'm not sure how long it takes a company to complete a well, or how long to decide to drill. We have had an offer for $625.00 per acre. without the knowledge of activity, etc., we are at a loss as to what to ask for. Any help you could provide would be greatly appreciated.

$625/acre is probably not a bad offer considering the lack of activity in that township these days. There are some producing wells there, and perhaps the reason you received the offer was due to the drilling of the "Ledford" well there in 2013. You may or may not have an interest in this well, but probably do because it was drilled in the NE/4 of the section, and apparently that's the part you own in.

The Ledford well is nothing spectacular and produced only a few truckloads of oil in 2013. Not sure what it did in 2014 but probably not much.

If you do decide to sell them I think the best thing to do would be to list them for sale on the Mineral Hub ( It's free, and that way your mineral rights will be seen by MULTIPLE buyers instead of just the company who contacted you (probably unsolicited.) It may be that someone who is willing to pay more than $625/acre will see your listing on the Mineral Hub and that would be good for you of course. If the "true market value" of the 40 acres is more than $625/acre it will likely be validated by the offers received from potential buyers who see your listing on the Mineral Hub. Just a thought.

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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