America’s conversation place for mineral owners
yes, we were offered $300 an acre and 1/5 RI for N2 Section 22-14S-38E by Steward Energy. What is your offer and from whom?
we have 2 offers for sec 1 15s 36e. one was for 1/5 ri, and one was for 1/4 ri, but we never accept less than 1/4. One was for $450 and one was for $750. We've found that it has never hurt us to not be in a hurry. the previous lease offers for eddy county started at $175, and ended up at $5000/nma. that's been the largest difference, but there have been several instances where we took our time and got several offers. let me know what happens with your royalty if you can.
Thanks, Mollye, I appreciate it, I will keep you informed. I agree, never in a hurry. I've been sitting on the offer since July and there is an email in to their landman, Brad Carter, for a more current bonus offer. This is our only property in New Mexico, so I am working blind with this one. My experience lately has been similar to yours with lease bonus improvements as well as RI. Upton Co Texas started at $500 acre, 3/16ths and we ended up with 8,000 and 1/4. I love my landman, Patti West, who negotiated that one! This forum and the NARO site are the ones I depend upon most for current lease offers.