Oil & gas discussion group for those interested in Claiborne Parish, LA. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
I have been offered $100/acre and 3/16 royalty to lease minerals in Sec. 29, T21N, R7W. I have done a little research and seen higher rates. Does anyone have a feel for the "going rate" in this area?
I have 240 acres in Section 21 and 22, Township 22N, Range 7W. The latest offer is $400/acre bonus for 3-year term; $400/acre for 3-year extension. 25% royalty interest to the top of the Smackover and 20% royalty from the Smackover on down. We are countering with 22.5% royalty top to bottom.
I am seeking an attorney to assist me with the ancillary probate process in Claiborne Parish, LA. Recommendations are appreciated.
James R. Hatch, Attorney-at-Law
P.O. Box 329
Homer, Louisiana 71040
Thank you, Milton