What is the current going rate for Ritchie Co. Clay district leases? I have a tiny share in some rights and need some information on the bonus and royalty percentage. Thanks, Jane Lyttle
I have heard of recent offers of $1000 to $1500 an acre and 15%. That is the starting offer. A year ago I heard of $3000 an acre and 18% starting offer. I have read on the internet that things are picking back up including in a neighboring county so maybe the numbers are getting higher again. Of course there are many aspects of a good lease beyond those numbers.
I'd recommend getting an attorney involved even for a small amount, at least ask about it. A good local Ritchie county attorney is Scott Windom or others at the Windom Law Offices in Harrisville, Ritchie County (on Courthouse Square right next to the courthouse. Windom Law Offices
A good attorney on this forum is Kyle Nuttall Nuttall Legal
I'm sure there are others. Start with contacting them and see what they say.
Thank you very much for the information - much appreciated!