I am new to mineral leases. I have a current offer of 450.00 per mineral acre but this same property was leased in 2015 for 601.00 per acre. Can anyone shed some light on current lease rates in this area?
It all depends on your location. If your name and correct contact information are of record in the county clerk’s office, companies that want to lease will find you. Competition and number of acres also determines lease prices. The more acreage you own, the more clout you have in getting better offers. Give you legal description and the forum can probably help.
Todd, thanks for the response.
I failed to say that the minerals are located in Carter county at Section 29, Township 3 South, Range 1E. Total mineral acreage is 35.5. I am curious what a fair offer in todays economy would be. As I said in the earlier post the current offer I have is less than a previous lease in 2015.
There haven’t been any leases filed in this section since 2016. Lease bonus amounts are all about competition. If the party making the offer has no competition, then they can name their price, more or less.
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