My family and I have mineral rights in Section 85 of Hemphill County. We have recently received leases which contain $500 bonus per net mineral acre and 3/16th royalty. These number seem a little low. In the past we have gotten $1000 bonus and 1/5th royalty for leases in section 59. Has anyone recently leased mineral rights in Hemphill County and if so what were the terms?
Thanks,
-Tom
I haven't leased any minerals for about three years, but I agree with you that $500 3/16th seems low. Sounds like Chesapeake. That is what they offered for some minerals in Ellis Co ok. Fortunatly during the lease negotiations andother company made a better offer. We haven't signed the lease yet, but shoudl this week. Know this isn't all that helpful, but I know I always appreciate some sort of input.
Good luck,
Heather
Hi Heather,
Thanks for the information, it is indeed helpful. The actual operating for the lease is Simarex Energy and the leasing agency is McAfee Land Mgmt. Of course the land mgmt company's job is to get the best terms for their customer. I do believe that better terms could have been negotiated but I believe that the majority of the leases within the family have already been signed and returned so I'm probably not going to try to "upset the apple cart". Who is the operating company there is Ellis?
Best regards,
-Tom
Sorry for the late response, Tom. Just now saw your reply. The operating company was Texakoma Exploration out of Plano, TX
Tom Longbotham said:
Hi Heather,
Thanks for the information, it is indeed helpful. The actual operating for the lease is Simarex Energy and the leasing agency is McAfee Land Mgmt. Of course the land mgmt company's job is to get the best terms for their customer. I do believe that better terms could have been negotiated but I believe that the majority of the leases within the family have already been signed and returned so I'm probably not going to try to "upset the apple cart". Who is the operating company there is Ellis?
Best regards,
-Tom