We own acreage in Petersville. Just gathering information on SS amount for
land lease and mineral %. Also seeking infromation on drilling activity in same area.
I am no expert. My opinion is worth what you paid for it ZERO.
BUT:
I have heard offers of $1500 a mineral acre at 20% for a 3 year lease with the bonus paid again if the drilling process has not begun by the end of the 3 years.
I think a more reasonable amount would be $2000 to $2500 @ 25% with the same renewal terms.
Get enough to make you happy. It may be years, if ever, before you get a royalty check. You could also get lucky on the drilling schedule and production and get money in a short period of time. We are at the mercy of the operators.
ZaZa Energy got approved for a new permit today 4.5 miles west of Yoakum off 111.
abstract #55 -- API # 123-32554
We'll see what happens..........
Any news on what is going on