I just received a lease offer from a company out of Midland for my 127 acres south of Pearsall. What kind of lease rates are any of you receiving at the curren time. Several years back the going rate was $1250/ acre and this is $150/acre. Thanks, Victor
Victor,
I believe we received $200 per acre, 22.5% royalty for a 3 year lease. This was about 1.5 years ago.
Are you seeing an increase in leasing around you? What company if you dont mind sharing?