Location: Sec 16, Block 42, Township 2 South, Ector Co TX, Orchard Tract 1
We received an offer from Venture Royalty Partners out of Ft. Worth offering $1,500/Acre lease bonus, 5 year w/ 2 year option, 25% cost free.
For comparison I’d appreciate any input if anyone has received offers in the above location. I’m assuming the bonus is low since it’s the first offer. Probably negotiate for 3 years?
Thanks