Hello, looking to seen what current leasing “Royalty & Production” rates are as we recently received a Partial Release of our prior Oil & Gas Lease, this gives us 17.284 available acres for a new lease.
We are not looking to sell these, only lease. We are in Wheeling Township.
Thanks in advance for all assistance.
No clear cut answer here. Totally depends on how close to unitization the acreage is. Since you are not interested in selling a good approach is to WAIT and let THEM approach YOU FIRST. This will maximize your leverage. Forget what you HEAR others are being paid. The offers are based on timing AND prices in the current market. Follow these rules : Be PATIENT, EDUCATE yourself ( join a royalty owners group and read read read ), and first and foremost HIRE AN EXCELLENT ATTORNEY! Dont skimp in this area. You will get back WAY more than you spend for upfront advice. Remember, the longer you wait, the better your deal will get ! Don’t settle for THEIR offer EVER !!