Archer County, TX oil & gas discussion group. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
Ya never get too many friends. Clint Liles is a friend indeed.
marty
Hello everyone. My sister and I just found out we own mineral rights in Archer County, Texas. It was a shock and we are trying to get as much info as we can before we make a decision. We have been offered a seismic permit with option to lease. We would like to find out if the seismic permit with option to lease is normally signed together. Also, they are offering $15 per acre for 12 months for the seismic permit. Is that good? The option to lease is a three-year at $90 per net mineral acre and 1/6 royalty. There is no mention of a lease bonus. Any comments are appreciated. Thanks.
$15/acre is good; however, 12 months is bad. Way too long. Yes, seismic option is signed with lease. $90/acre is the bonus.
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Attachment: 2018-04-30 - NARO-TX Convention Agenda (Hyatt) invite.pdf