Anyone know the going rate for lease in Sec 29 & 30-09N-02E

Does anyone know what the average lease rates are is in these sections? I have an offer, but compared to other leases I have, in other counties, the offer is very low.

Sec 30-09N-02E and Sec 29-09N-02E

Section 33 was pooled in October for $100 and 3/16. A few miles further away was $50.

That doesn’t mean that is what it worth today, but it is an indicator that might match up with your offers.

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Thank you very much.

$100 at 3/16 and $150 at 1/8 is the offer. They are such small acreages that I might take the $150. Less than 20 acres total.

I’d be more concerned about the rest of the lease than I would the bonus. 20 acres is not small. 3/16 pays 50% more royalty income than 1/8. Does a $1000 make that much of a difference in your standard of living to possibly reduce the income by that much for decades?

Something to think about.

Regardless, my common response is “The Bonus and Royalty Interest MAY not be the most important thing you negotiate on your lease”. “IS” may be a better word to use than “MAY”! :wink:

I have a bunch of property leased, and I always go for the larger royalty. In this situation, one piece of land is 8 acres, and the other 4. That is the only reason I was considering the higer bonus. If it was a large bit of land, I would not question it. I have several leases making only enough for them to hold the lease. It might take these little bits twenty years to accumulate $1,000.00. But yeah, I’ll go for the bigger cut, I’m sure.

But absolutely thanks for giving good advice. I appreciate it.