I received an offer from Winding River Energy Services Corp.- 3-year term with a 2-year option to extend, $350 net acre bonus consideration, 3/16 royalty. I don’t have much experience negotiating mineral leases but $350 seems a bit low. Anyone else have any recent offers in the general area? I also couldn’t find much info regarding the company online.
Personally, I never go for a two year option as it is not usually in the mineral owner’s favor. I also ask for 1/5th and 1/4 options. The two year option makes me think they are speculating and might flip it. I also get legal help on any lease. The draft lease form is also not in the mineral owner’s favor and needs substantial edits.
Other companies ieasing in the area are Summit Resources in 2023 and Mako Resources in 2021. Nothing has been filed recently in section 6
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