I am trying to find out a fair price for mineral lease in Nolan, County, Texas. We were approached about $75/acre and 3/16th Royalty (or 18.75% of total price) with option for 2 year extension at $75/acre. Looking at about 840 acres of minerals. Is this a fair price? Thanks, Clark H.
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I’d counter with $150 pnma, ¼ royalty and three year lease with no extension. What’s your legal description?
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I have not been online for the past week and just now replying. I have had no offers so I do not have any reference offers. I do agree with the 1/4 and shorter term. Nolan county has been hot and cold for years.
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All of Sec 96, Block 24, S 200 acres of E/2 of Sec 85, Block 24 W 310 acres of Sec 85, Block 24
Offer is now $100/acre +20% Royalty and $250/acre if 2 year extension picked up in 3 years
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Similar to our offer in Nolan for 250 acres. $100 pnmi, 3/16 royalties.
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Is you land close to this we have rights on? We were offered the lease by Mesa Ridge Land Company for Scott Oil.
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blk 64 section 200 at Hylton. Equitas Energy.
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