Contacted by Orla operating and offered $150/ROD. 40-50 RODs. Is this a reasonable offer? Should I get attorney?
I feel as if the offer is modest. You should find that a mineral manager or attorney well versed in pipeline negotiations and easement preparation would be to your advantage and level the playing field.
Best,
Buddy Cotten
The rod prices are normally set by the Texas School Lands annual list that is put out. This helps keeps offers pretty consistent.
Google UT Lands Rate and Damage Schedule and use these as a floor. It does not set rates, but is used as a guideline. You can get much higher depending on location, leverage, and other factors.
Thank y’all for the information, I appreciate it!