A friend just received an offer to lease a family mineral interest in Sec 14, T9N-R12E. Does anyone know about leasing activity/going rates in this area? I checked for permits and do not see any. Thanks!
I am not seeing much lease activity in that area. What was the offer and how many acres are you dealing with?
$75/ac with a 1/8th royalty. I don't know the net acres offhand, but it is not a large tract. Personally, I what I care about is the royalty.
Kirk Bloomquist said:
I am not seeing much lease activity in that area. What was the offer and how many acres are you dealing with?
That is a very low offer. I will send you a friend request and let you know what I know
Thanks!
Kirk Bloomquist said:
That is a very low offer. I will send you a friend request and let you know what I know
I was offered 200 then 250 and finally 300 an acre but its not in your section but it is in hughes county.
Thanks for the info Jimmie. Did you get a good royalty? I checked for permit activity, but did not see anything. Are you aware of drilling or pre-drilling activity in the vicinity? Thanks!
I just signed the contract less than 3 weeks ago. Just found out a couple months ago that I even owned mineral rights left to me by my grandmother that passed eight years ago. She has never received any royalty and as far as I know the land has never been drilled on but I don't know how to check that. I know for sure that she never leased it or received any royalty because I took care of her finances. I am still waiting to recieve the lease bonus. Where did you check for drilling activity?
By the way the contract was for 3/16th royalty for three years. I have 50% interest in 120 acres.
Jimmie- use this address to check your acreage or surrounding sections for activity. Permits are Form 1000.