Some of the oil money is spent on hunting, but it is a very small portion of the overall hunting money spent in Texas. We were still leasing to hunters back in the 1980's, not one of them was in the oil business. The overall demand for leases won't fall and the prices won't either.
The lower fuel prices will open up opportunities for some to consider getting on a lease. If there is more demand, the higher the lease prices the landowner can ask for.