I have been approached to lease approx 40 net acres out of a 700 acre tract. This would only be for the Austin Chalk formation.
I am being told that $250 bonus, 1/4 royalty on 18 month term is market.
Any thoughts?
I have been approached to lease approx 40 net acres out of a 700 acre tract. This would only be for the Austin Chalk formation.
I am being told that $250 bonus, 1/4 royalty on 18 month term is market.
Any thoughts?