Lease Offer Rate

[RichardS]

I received a lease offer on some minerals I got from my dad in Cooke County. How do I know if the offer is at a good rate? I am new to this and want to get a fair deal. Company name is CRDTX and I can’t find much online about them. Appreciate any help from anybody. -Richard

[M_Barnes]

Welcome to the forum. Offers will vary by location. If you give an abstract number, then someone may have more information.

[RichardS]

I believe I own about 37 acres in abstract 801 in Cooke. That is what the paperwork says.

[Dusty1]

Welcome to the Forum. Hopefully somebody with direct information on Cooke County will respond to you, but I expect you’ll find getting current information about comparable leases is tough since it’s not publicly available.

You didn’t mention the size mineral interest that’s involved which can make a difference. Your specific location can also be important.

If you want to keep track of general lease activity in your area, going to CourtHouseDirect and signing up to get Lease Alerts on Cooke County is a place to start. You’ll need to set up an account but there is no cost to get periodic emails listing all the O&G leases recently filed in your county. The recorded documents are included but those typically are only lease memo’s that don’t include bonus amounts or lease terms. They will show you who is leasing and the areas that are active.

Depending how much time you’re willing to spend on research, you might also benefit from learning the ownership of other mineral interest in your specific area. IF you can pin that down you might be surprised how much you can learn by contacting folks and seeing if they are willing to share information and if they are also receiving offers would consider working together on lease negotiations. The Cooke County Appraisal District has an interactive map that can help you figure out surface owership. There’s no guarantee the owner of the surface also owns the full mineral interest but again, it’s a good place to start.