Hi Mineral Rights Forum,
We are unleased co-tenants on 10.5 acres in N/2 Section 10 Block 55 Township 2 T&P Survey Loving County Texas.
Shell has a well which is currently producing and we will soon be starting a lease negotiation with them.
What are the going rates for leasing bonuses in this area? Any relevant information would be appreciated!
We have plans to contract Wade Cadwell on negotiating the lease. I’d just love to know what we might expect!
Per , the closest most and recent comps I’m seeing around you are from March of this year. $3500/acre | 25% | 1 yr term by Mewbourne Oil Co. If you convert to a 3 year lease term, you’re looking at $10,500/acre. A little further west in Reeves, there are a good amount of comps targeting the same play and ranging up to about $12,500/acre on a 25% | 3 year. I’m not saying this is what you’ll get - it’s just an idea of what is going on around you.
Your tract is in blue. The 2018 comp is ~5 miles away and shown as the popup.
