This week I received a lease offer on land near Washington, Tx, which is in the Eastern portion of the county. Have any of y'all leased up recently in this area, or know the going rate(or range) for Lease Bonuses and Royalties in the area?
Thanks in advance for any info!
I have also received a recent offer and would like to know the current Bonus and Royalty rates. The land is near Independence.
In February somebody on here with 50 NMA 3 miles west of Independence and 1/2 mile south of the county line said they recently got $1200/acre and 25% on a flat 3 year lease. Esquisto(Wildhorse), TMH Land and Verdun were apparently competing for his acreage.
I've heard other lease offers on the east side of Hwy 36 ranging from $650 to 850/acre with 20 to 22.5% so the amount of competition can make a lot of difference. It looks like leases taken by TMH, Todd Weiss and Paleo Oil have all ended up being assigned to Blackbrush, who along with Verdun and Wildhorse seem to have the biggest positions in that area. If you get an offer from one of them it probably makes sense to see if the others are interested before you commit.
Thanks Dusty,
My offer was on the high end of the 650-850 per acre range but 20% royalty.
I just joined this site yesterday and was surprised to find that there is leasing activity in the Independence area. I have 450 acres of minerals east of Independence and would like to get some contact information for the companies that are leasing in the area. I am not sure if that type of information can be exchanged on this site. Any advice would be much appreciated. - Thanks
DBG, WELCOME TO MINERAL RIGHTS FORUM
This link is all approved permits for Washington County since October 1, 2017...listing the Permitted Operators.
http://webapps2.rrc.state.tx.us/EWA/drillingPermitsQueryAction.do?p...
Thanks. That is helpful!