Got an offer from TCO2 (?) for 2.5 net mineral acres in NE4, N2SE4 of Section 33, Township 24S, Range 36E. The offer was for $500.00/NMA and a 3/16th royalty on a 3 yr. lease, with a 2-yr extension (same bonus to be pd again). What do ya’ll think. I know not to accept extension but what about monies?
I would ask for $3,000.00 and 1/4th royalty.
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Always hold out for 1/4 royalties.
Counter with 1/4 and no extension. We don’t negotiate extensions. Lease $ up to you to negotiate. Usually they are willing to double the initial amount.
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