any help on leasing bonus in sec 19 T18S R 31 E,Eddy county what is a fair price per acre for leasing and any activity close by thank you
There are numerous Shugart and Shugart West wells being operated by Marathon and Mewbourne (two very good companies from my personal experience). Is your offer to lease from either of these two companies? I would definitely go ¼ royalty, three year lease no extension, on a mutually acceptable lease form. As for pnma bonus, considering the times, I wouldn’t be too greedy. The last NM lease we signed in 2019 was negotiated in Lea County for 15K pnma. I don’t think at this time you could negotiate that. How many pnma (per net mineral acres) do you own? The more the better able to negotiate higher pnma bonus prices. Good luck and let us know what you negotiate.
thank you for your help
Rick, If you know, can you please let me know if there was a lease sold in that area by BLM recently and what did it fetch per acre thank you again for all your help
I have very little knowledge of how the BLM Site operates so I can’t help you there. Sorry. The shugart wells are under a federal lease though I believe. You can look up New Mexico mineral/ORRI at the following site by property description. Section, township and range.
http://ocdimage.emnrd.state.nm.us/imaging/WellFileCriteria.aspx
Can anyone update us on the lease bonus rates in Eddy, post-pandemic? I know that pre-covid the bonus rates could reach up to $5k depending on the location of the acreage, but I just heard that things are much different now. Anyone have recent insight into this?
Eddy County is large and the prices vary greatly depending on a number of factors. You will get a better response on here if you post a township, range, and section.
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