City minerals leased for $1,750/acre
It probably won’t be available for his last budget as Clinton city manager, which is now being put together, but Steve Hewitt will be leaving his successor a nice gift to work with as a result of an oil-and-gas lease bid opened at Tuesday’s City Council meeting.
Only one bid was received, but it was a good one – $1,750 an acre – for 99.7 acres of mineral rights in northwestern Washita County near Clinton Lake. At that price the total for the tract will be $174,475.
“That’s an awfully good lease,” said Councilman Don Rodolph, an attorney who does a lot of oil-and-gas work and helps the city keep track of its minerals.