I have been approached to lease brine on a piece of inherited acreage and I have no idea what bonus is fair. $50 per acre seems ridiculously low. I am fairly familiar with oil and gas but brine is a different animal. Anyone have an idea what is reasonable?
Brine leases are typically set by the state years ago and they are roughly $52/acre. The lease started at $30 I think and is adjusted for inflation by a set formula
Brine leases are typically set by the state years ago and they are roughly $52/acre. The lease started at $30 I think and is adjusted for inflation by a set formula - so it is a different animal. Large quantities are recycled through the plants to extract trace minerals and oil was long played out except for small traces.