I have a lease in both Loving County and Grayson County. Can anyone help me know what the going lease rate in these two areas is?
My mineral rights are located 4.6 miles NE of Mentone, Section 1, Block C27. I leased to Anadarko for $700 an acre 3 years ago before I was aware of this forum. I think I could have negotiated higher but I just took what they offered. My lease is up in September; will see what rates are then. There is activity now in the area.
They are just offering us (same company) $500. Ours is up this summer; however, they did give the other owners of the same lease $700 a year ago also. They kind of did us dirty; it’s a long story. Would like to find a different company to lease to.
joe spence said:
My mineral rights are located 4.6 miles NE of Mentone, Section 1, Block C27. I leased to Anadarko for $700 an acre 3 years ago before I was aware of this forum. I think I could have negotiated higher but I just took what they offered. My lease is up in September; will see what rates are then. There is activity now in the area.