I have been contacted by a landman for CML and am in the process of negotiating a lease. We have 2 different parcels we are trying to lease. The first offer to us was $220 per acre and 3/16 royalty. Currently the offer is $400 per acre and 20% royalty for 3 years and they want a 2-year extension at $300 per acre which I am not inclined to give at all and certainly not at a reduced price per acre. What have you been offered?
I feel we are close to market value with the $400 per acre but would like to know what others have been offered recently.