Hello everyone, I have had an offer for a 3yr lease for
$650/ac + 1/8
Or $400/ac + 3/16
Or $300/ac + 1/5
It’s for 2 locations S/E4 N/E4 23-9N-12W W/2 15-9N-12W
I’m new to this, so I could really use any advice I can get. I will have an attorney advise me on the contract soon but I wasn’t quite sure what the best option would be. Anybody have any info on what leases are doing lately in this area?
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Very wise to get an attorney to review any draft lease. Make sure each section is on its own independent lease if you own in both. Do not link them together. Many savvy mineral owners would prefer the higher royalty option. The bonus amount may be piddly in comparison to the increased royalties from the first well and any infill wells over the years. Looks like the first well may be catty corner across 15 & 23. Looking at the ones nearby and their angles.
Lease bonus amounts are not public.