Thanks for that insight Michael - I definitely thought that was a low number as well given that it's the "minimum amount' on UT Land Rates page. I've heard different opinions about UT Land Rates...notably that you should multiply that number by 150% to start negotiations but also others like yourself who say to completely disregard. I've been reading and studying oil and gas leasing books, but haven't found much useful information regarding ROW's.
Another question: Do you think it's a good idea to have a lawyer draft our own Easement Agreement that we use when we get offers - for the sake of not having to worry about any hidden or confusing language? We get a lot of offers, and that's our process with O/G leases.
The offer was made through Lonestar Land Services, LLC on behalf of Plains Pipeline, L.P. out of Houston.