Offered a lease contract for $50 a net mineral acre and 1/6 royalty for 5 year primary term. I am new to all this. Is that standard in north Mississippi right now? Any red flags?
Welcome to the forum. I am not familiar with the pricing in Mississippi. That sounds like a base minimum offer. I never lease for more than three years. If you have not leased before, it would be wise to get an oil and gas attorney to review any draft lease. They are generally not in the mineral owner’s favor and need a good bit of editing before they get more fair to the mineral owner.
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