We have mineral rights in Weld Co Township 1 North, Range 64 West, section 20. Have been offered lease bonus for $750 per net min acre, and a lease royalty of 3/16th if production. Wondering is this is a good offer or if we should negotiate!? Any feedback?
Welcome to the forum!
I have that section targeted at $1,300/NMA for a 25% royalty lease or $1,600 for a 20% lease. 3/16th is low for a modern lease but that area does seem to range 15-20% so not terrible, BUT first priority would be to up it to at least 20% (and ideally 25% but you might not have that leverage). Your property would be worth ~10% more just by going from 3/16th to 1/5th.
Then work on the bonus. If you’re negotiating more than ~2 NMA of value, it’d be worth having a lawyer review the lease terms and have them help negotiate better terms for you. The terms can make a difference in how much you get paid if drilling happens.
FYI, the section just 1 mile West of you has a TON of permits on it, which could indicate value coming your way. Hold strong for better terms since you should be able to negotiate quite a bit.
Hey thanks so much for your thoughtful response. We have taken it all into consideration on our negotiating! We appreciate it. 
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