# 1 Year Lease Extension

**URL:** https://www.mineralrightsforum.com/t/1-year-lease-extension/58780
**Category:** Oil and Gas Leasing Help
**Created:** [August 31, 2020, 8:05pm UTC](https://www.mineralrightsforum.com/t/1-year-lease-extension/58780 "2020-08-31T20:05:18Z")
**Posts on this page:** 4
**Page:** 1

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### Author: ![Loree\_J\_Horton](https://www.mineralrightsforum.com/user_avatar/www.mineralrightsforum.com/loree_j_horton/32/232_2.png) [@Loree\_J\_Horton](https://www.mineralrightsforum.com/u/Loree_J_Horton)
#### Post date: [August 31, 2020, 8:05pm UTC](https://www.mineralrightsforum.com/t/1-year-lease-extension/58780/1 "2020-08-31T20:05:18Z")

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We were just asked to extend a lease that is expiring at the end of the year, for one additional year. Initially we were not offered a bonus, but when we declined they suggested we talk. Any advice on how to approach this negotiation? The only comp I could see near me was from 2012, a three-year lease, $635/nma, 25% royalty. Our initial lease was not negotiated, but was 5 years, $600/nma, 20% royalty.

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### Author: ![Dusty1](https://www.mineralrightsforum.com/letter_avatar_proxy/v4/letter/d/7bcc69/32.png) [@Dusty1](https://www.mineralrightsforum.com/u/Dusty1)
#### Post date: [August 31, 2020, 9:53pm UTC](https://www.mineralrightsforum.com/t/1-year-lease-extension/58780/2 "2020-08-31T21:53:46Z")

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You’ll need to post some more details. Need to know the location you are inquiring about. You also might have better luck posting your question under the section for your specific area. You can do that by clicking Counties at the top of the page, then going to your state and county.

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### Author: ![TODD\_M\_Baker](https://www.mineralrightsforum.com/letter_avatar_proxy/v4/letter/t/91b2a8/32.png) [@TODD\_M\_Baker](https://www.mineralrightsforum.com/u/TODD_M_Baker)
#### Post date: [August 31, 2020, 10:36pm UTC](https://www.mineralrightsforum.com/t/1-year-lease-extension/58780/5 "2020-08-31T22:36:44Z")

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If the oil and natural gas prices continue to sneak up, you should have more offers coming once your current lease expires. Since your minerals are in Texas, an assumption on my part, why not start at 25% royalty and work your way backwards, if you want? Get the clauses you want and need in your new lease BEFORE you talk money with them. Just my 2 cents worth.

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### Author: ![system](https://www.mineralrightsforum.com/uploads/db5755/original/3X/6/c/6c7c56608c843272ad6e3662ce9562a5956f173e.png) [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [November 29, 2020, 8:05pm UTC](https://www.mineralrightsforum.com/t/1-year-lease-extension/58780/6 "2020-11-29T20:05:22Z")

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