Received 3-year lease offer a few days ago for $650 NMA retaining 1/5 royalty. Another offer yesterday for 1,000 NMA, 1/5 royalty. Curious if anyone knows what the current rates are for this area.
Welcome to the forum. Lease bonus amounts are not generally public. Someone on the forum may be willing to share their offers. You can see from your offers that there is a range. The clauses in the lease are much more important than the bonus. If you have not leased before, it would be very wise to consult a good oil & gas attorney and get some help with editing the draft lease that you receive from the landman. Most of the draft leases are not in the mineral owner’s favor and need some negotiation.
Camino and Warwick-Jupiter seem to be the main players in the area, although Citizen Energy has filed a few leases. Camino and Warwick are working on cases in sections 2 & 12. No cases are currently filed in 30, so you have some time to get a better lease or wait for force pooling. Many of us prefer that option.
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