I have been notified by a land man that my grandfather had mineral rights to 10 acres in the
Jesse Walker Survey A-607 Wood County Texas. I am very much clueless about how all of this works. I have been sent a lease for $100.00 for 3 years (not a $100.00 each year) and one-sixth royalty provision. I asked the land man if this was a new well or old and he said neither one. Without knowing anything I thought that this seemed low -- I'm looking at it like that's only $33.33 a year for the mineral rights and I do understand that it's only 10 acres. I could use all the help, advise etc anyone can share. Thank you Peggy
I was recently told by a Tyler, Texas landman that the minerals should be leased for a minimum of $100 per acre and should probably go as high as $200 per acre for a one year lease in Wood County, Texas. Also, you should probably get a 25% royalty provision. Which entity contacted you? I have contacted an attorney to negotiate with the oil company that offered to lease our minerals. The negotiation continues.
I was recently told by a Tyler, Texas landman that the minerals should be leased for a minimum of $100 per acre and should probably go as high as $200 per acre for a one year lease in Wood County, Texas. Also, you should probably get a 25% royalty provision. Which entity contacted you? I have contacted an attorney to negotiate with the oil company that offered to lease our minerals. The negotiation continues.
Peggy said: Yes thank you it's a great info. The entity is Crevalle Energy LLC. Thanks again, Peggy
Eric Steger said:
I was recently told by a Tyler, Texas landman that the minerals should be leased for a minimum of $100 per acre and should probably go as high as $200 per acre for a one year lease in Wood County, Texas. Also, you should probably get a 25% royalty provision. Which entity contacted you? I have contacted an attorney to negotiate with the oil company that offered to lease our minerals. The negotiation continues.