I just got a letter from a land man wanting to lease W2 of Section 397, Block G, Gaines Co.
Any thoughts on what bonuses are going for here?
I’d love to know about what to expect for current lease bonus rates as well. I’m not in your area (farther southwest) but am also on the western edge of the producing fields and have started receiving lease offers. Care to share what they have offered you in bonus? I was offered $700/acre @ 25% royalty but am thinking that because I’m so close to current production I could get a better bonus.
We have minerals in Gaines co, w/2 nw/4 sect 277/block G wtrr survey. We got $800/ 1/4 royalty. We had to negotiate , but started out way lower. Not sure if thats good or not.
Sounds good to me.
Two years ago i think going rate was $500
That sounds good to me… I was going to say you could only maybe go up in royalty…but I misread thinking you had 1/5…but you have 25%…so you are good to go!! That is the best lease we’ve had since our family has owned the rights… hopefully now with new drilling techniques they’ll be able to access oil… but the intermittent checks are nice 
My family is split pretty evenly between Gaines and Dawson…and Gaines is definitely hotter, even though we just leased Dawson (these companies will never make sense to me 
)