I have an offer from Magna Resources for seismic investigation with option to lease if they find resources. Can anyone tell me what is the going price per acre for seismic, and also for leasing and royalty percentage.
It would be more helpful if you would post your question in the correct state, county and give a more precise location. Your question is too generic at the moment.
I have received offer for seismic exploration in Stonewall county, Texas, southern half of Sectioin 349. Does anyone know a going price for seismic exploration. This has an option for a lease attached. 3/16 royalty, 3 years, with option for extension for 2 years; Lease bonus is 135 per NMA. Can anyone suggest if this is within the going range for Northwest Texas?
I cannot comment on seismic pricing as it differs from area to area.
I do not do an extension on a lease. The clauses in the lease are the most important and the first draft offered is usually all in the lessee’s favor, not the mineral owner. Suggest that you get legal counsel if you decide to lease as those clauses can hold your family for decades. Also, the 3/16ths offer is usually a first offer. I always ask for 1/5th and 1/4th quotes. 1/4 is standard in many counties.
Ms Barnes, Do you have any idea what is customary royalty might be in Bossier Parish, LA. I am being told that they will only do 20% with a $1K bonus
I do not work in LA, so could not tell you.
This topic was automatically closed after 90 days. New replies are no longer allowed.