My lease with California Resources expires at the end of this year. Does anyone have feedback on the current marker for lease and royalty rates. The expiring terms were $35/acre and 3/16 royalty rate. If Cal Resources does not want to sign up again, does anyone know of interested landmen in the area?
My rights are located at Township 17 South, Range 16 East, MDB&M, Section 17.
One thought I had for next time is to include an annual escalation rate on the rental rate and also to avoid the 5-year option to renew at the old rate.
Any feedback would be appreciated.