I was talking to an attorney the other day who represented a mineral owner in Cherokee County and he said they signed for $175/acre bonus and a 3/16th royalty. I thought he said they had leased with “Ballyhoo” LOL, but maybe it was Balyeat. Tell your mom that the $200/acre sounds good, but make sure her royalty is not less than 3/16th.
Carol Ezell said: My mom received an offer of $200 per acre for 115 acres in the J. Johnson Survey in Cherokee County Texas. Not sure if it includes a % if they start producing or not. Like Erica, the $200/acre sounds really low to me, but I’m not familiar with the activity there since we live in the D/FW area. Anyone know if that is a reasonable offer? Anyone heard of Balyeat Oil & Gas, LLC? Can’t find anything about them in a google search, and that concerns me too.