Current Lease Bonuses in Andrews County?

My siblings and I own 5 acres in S/2 Section 2, Block A-44 and would like to know some of the going rates for bonuses in this area (total of 325 acres in unit). We have been offered $350 per acre, at 1/4 royalty, for 3 years. Would really appreciate the help!

That sounds low to me. 3 years ago (which can be an eternity), I leased in a relatively poor area of Andrews for $600/acre, 25% royalty, 3 year lease and my lease agreement. Just now in Gaines, again, I leased in an undeveloped area, for $500, 25%, 3years and my lease.

I would counter with $600.

Thank you so much! I will try. I tried getting $600 3 years ago and couldn't get it. I guess it depends on the competition, and I'm seeing none right now. I will certainly try for more though.

If you don't mind me asking...who is trying to lease your land?

New user here. Not too familiar with leases. My sister and I have 240 mineral acres total in Andrews County, sections 5,6 & 7, Block A-51, PSL. We have recently received an offer from Rock House Resources for a 3 year lease at $350 per acre. I suspect this is low but would like opinions, advice. Thanks in advance! Offer also includes 25% royalty rate.

I would hold out for at least $500. Your area doesn’t have a ton of activity right now. I wouldn’t do a 2 year extension if they ask. Do a straight 3 year, 25% and favorable lease riders.

Thank you for the reply and the advice. Is your recommendation to hold out for $500 based on knowledge of current payments in my sections of land or just a general recommendation not to accept the first offer? Admittedly I’m a rookie but he seems pretty stuck on $350 after my first attempts at negotiation.