We decided selling was not a good idea; we leased for 3 years with 1/4 royalty. The going rate varies quite a bit by location of your property. There are many people on this forum that know much more than I do about how to tell what is the going rate in your area. I can tell you that we are leasing for several times more than we were offered to SELL the property. So take your time and do the research, is what I would advise. Our lease is for $3500 per acre with 1/4 royalty.