Would like to know the current average lease bonus rate in Lea County, E/2 of the W/2 of Sec. 5, Township 12S, R 38 E. I have been contacted by Cobalt Operating wanting to lease. Thanks for any information.
I think it is a whole new ball game since oil fell to $50/bbl. Let us know what they offer. I got $500 an acre plus 1/5 in 15S 36E a year ago.