I recently received an offer to lease these two sections and was wondering what the going lease rate is in these areas. Any information would be appreciated.
I would image it’s a pretty good offer, you’re in a good spot. Both Sections 21 & 34 previously had offers up around $6000/nma in 2017 depending on the royalty. Some of the more recent offers I’m seeing around the area are a little lower - $3000-4000/nma on the higher royalty spectrum. TPR Mid-con, Nosley, Jones Energy and Newfield are the companies that seem to be paying the best.
Hope that helps!
I leased 115 NMA in both 2&11 7N 7W in 2017 for 4500/NMA & 20%. Hang on to what you have. The lease bonuses in the last 6 years have made me $7000 per NMA