I own 2.08 NMA. I will be sent a lease offer in the very near future and from what I understand the offer will be for $2500/acre signing bonus with a 3/16 royalty of gross proceeds. Does this sound like a fair and reasonable offer for this location at this time? If not, what should reasonably expect?
Thanks, Glen
No. I received 3 lease offers a few miles north of you in 4-9-7 and all were at $5000 bonus or more and accepted a $5000 with 22% royalty. Landmen read this and bet will be contacting you now. Leases in 9-7 are going for $4000-$5000 or more and 1/5 is now pretty standard.
Lawrence, thank you for that information. That's a big difference in what I will be offered and what It sounds like I should be offered. I will seek out a better offer. Again, thank you.