Received an oil lease offer

Texas Mineral Rights Angelina County, TX
1

Hello! New here to all of this. Inherited a total of 3.046 acres in the Eunice Butler Survey A-119 and Joseph Sweeding Survey A-581.

BP just offered:

Lease bonus: 761.00 5 year term 250.09 per acre 3/16 royalty

This seems low-am I wrong?

Thanks for any help!

2

Yes Steve, it does seem modest.

Buddy Cotten

1 Like
4

So, I ended up at 500/ acre and 1/5.