Looking for insight. I just received a lease offer for our minerals in this section. Any idea what the going per mineral rate I should be considering for 1/5th royalty?
In the last 24 months, Beasley, Continental Resources, ML&P and Todco have filed leases. Rates have been up to 25%, so ask for that and likely zero or low bonus, but that is fine.
Probably going to be a Continental horizontal well three sections W-E like the wells to the north and to the south. The James Trust well in 23/24 is likely to be 6.6BCF.
Bonus amounts are not public. The closest you can get is a pooling within the last year, but none of those last year. Continental pooled in the township in 2023 with $800 @ 20%, $500 2 22% and $0 @ 25%. Bonus amounts this year probably lower, but I would go for the 25% if I can get a good lease or that at pooling.
Get an oil & gas attorney to review any draft lease as they are rarely in the mineral owner’s favor and need significant edits. If I cannot get a good lease, then I go to pooling as it has its own advantages.
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