It looks like things are beginning to happen!
Just got a call from a "landman" about mineral rights that my great grandmother purchased. Section 15 (16N, 1E) 3.3 acres. He offered me 100 per acre & 1/6 royalty with 3 yr lease. He works for striker. This is all new to me & I dont know which way to turn. Is this a fair price? What about striker, any info on them?
Brooke,
Never, never accept the 1st offer. $100 is way too cheap. $500 sounds good. 3 year lease sounds good. 1/6 royalty is way too cheap. 1/5 royalty is a lot better. Good luck and don't be intimidated by these landmen/oilmen. I've turned down 2 offers here in Texas in the last year for $150//3/16//3years plus 2. With small acreage though you may have to be flexible a little bit.
Clint Liles