I have a lease expiring next month, and a Landman from Parsley Enegy contacted me last week about renewing it under the same terms, $1,100/25%. Section13, Block 36, Township One South (T-1-S), Martin County, Texas, .98 NMA.
Any current info would be appreciated!
Camille
Camille,
25% royalty is standard so you are good there. Regarding the bonus $1,100 per NMA is extremely low for that area. However, given that you only own .98 NMA you do not have much bargaining power. I would try and get $2,500 per nma and see what they say. In the end your royalty is what really matters and you have the highest that they will give out.
Hope this helps.
Thank you for the feedback! I did not get a response before yours, so I re-read the dialogue from 2016, which indicated I was way under market. I quoted the old numbers from 2016 ($8-10000/nma),and received a counter of $8000/nma, which I accepted. The landman for Parsley said they are planning to drill 4q 2019.
Again. Thanks for the feedback. I like to share for all of the individual mineral owners. Comparables really help us in negotiations.
I’m unclear about your sale-did you lease your land or sell your minerals? Are you close to Ackerly, Tx?
Leased it. Near Stanton, Tx.