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I've seen offers in Eddy range from $150 to over $4,000/nma in the past year. Because of horizontal drilling successes, some areas have been valued at over $10,000/nma. Location, location, location.
I've been dealing with local law firms since 1992 that are strong in the oil business. PM me and I'll give you a reference that can help. You are very wise to have your lease offer reviewed in light of the new oil activity in the County.
Gary L Hutchinson