We have 143 total acres among five people that we would like to lease if you know of anyone interested.
Jack Blanks said:
I have been leasing my minerals and helping friends lease in Cherokee County for years. The play is probably Travis Peak. Cherokee activity has died down tremendously. A few years ago when Chesapeake was leasing there, the bonuses got as high as $400/acre, that’s also when natural gas prices were about 3x what they are today. Since then, interest has shifted outside of Cherokee to the Haynesville Shale Play and Eagle Ford Shale Play. Lately, I’ve seen offers from $150-$250/acre and 3/16ths-1/5th royalty. There are a lot of factors that go into your bonus and royalty. Most of it depends on how large your tract is and how important it is to the leasing company. If you have a large amount of acreage, hundreds of acres, you have more negotiating power. Hope that helps.
Erica Walker said:Julia did ever find out the going rate for Cherokee?? I just got an offer in the mail today for $200 an acre. I don’t feel that’s any kind of decent offer!!