Austin Chalk Lease Proposal

William Douglas Archer · 2014-11-18T01:41:05Z

I last year I was approached to lease acreage wherein the Lessee had identified locations for three wells. Their offer and my expectations were different and I wanted to be careful not to diminish the opportunity for the deeper rights. Last week this operator resurfaced but at a lower amount. This covers the following lands: Jacob Schroeder Survey 26, Abstract 670 John G. Sieper Survey 27, Abstract 669 M.E.P.&P.R.R. Survey 462, Abstract 669 Would I be making a mistake to only lease the Austin Chalk and assuming a cost-free 1/4 royalty, three year paid up lease? Also what should bonus be? Is this $200, $250, $500, $750 or $1000 or higher per net mineral acre land for just the Austin Chalk? I welcome your opinion and am in no need of cash, actually preferring to avoid income unless a very good deal. Another oil company has leased other participants to all depths and this operator tells me they have almost all except me and will work it out with other co. Thanks to all for your thoughts/suggestions.

Texas Mineral Rights Dimmit County, TX

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