Does anyone know the going bonus rate in Yoakum county right now? We've been contacted by a company interested in leasing under Sec. 85, Blk D, JH Gibson Svy.
Thanks!
CY Lundy
CY,
An area attorney told me this a few weeks ago:
The going rate for bonuses is a minimum of $250/nma, with $400-$550 more common; 3 yr. primary term, with a higher bonus for term extension; the old 3/16 royalty is too low. All Lessees are requiring the extension option because of the shortage of rigs. Of course, as in real estate, it's location, location, location!
Good luck!
Hi Paige,
I really appreciate your reply, thank you! It's very helpful to know if the companies are offering below, or in, the going range.