Friday, October 10, 2014

Mineral Rights

I own two residential rental properties in Stillwater, Oklahoma. Today I got a letter from a Leasing Agent for Land Services, Inc.

"We are offering to lease your mineral interest, subject to approval of title. Our offer terms are as follows:
$250 / Bonus per net mineral acre
3 year Primary Term with 3 Year Option at $250 / Bonus per net mineral acrea
3/16ths Royalty

or

$350 / Bonus per net mineral acre
3 year Primary Term with 3 Year Option at $350 / Bonus per net mineral acre
1/8th Royalty"

I'm not sure what all of that means in terms of actual potential dollars for striking oil and gas on my property, but I am feeling just a little bit like Jed Clampett right now....


Happy Investing!

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