Can anyone give me an idea of the going rate for a three year lease with an option to renew for another three years in Austin County Texas? I appreciate your help.
Elaine Schmidt January 2023
I moved your question over to Austin County, Texas.
I do not have any information on leasing in that county, but I would never go for an option to renew. Too much time and too many things can happen in the meantime and you might be stuck with stale bonus amounts. If you have not leased in a while, case law keeps changing, so it would be wise to have a good oil and gas attorney look at any draft lease. Most draft leases will be in the favor of the operator and not the mineral owner and will need significant edits.
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