Have recieve inquiry on leasing our mineral rights on land in eastern Gaines county, wondering what the current lease prices are?
We have tentatively agreed to the below numbers in western Gaines county:
$600 NMA/25% royalty for the 3 year primary term and $625/25% for the 2 year option
Many of us will not do an option. Too much can happen in the three years alone.
Yes that is what we have been told…they seem to be very adamant about it though. Maybe at the end we say we simply will not sign with an option.
Are you at liberty to share “who” and what lot and Section? Just curious, as my lease is just up, and I’m waiting to hear if the option is going to be picked up. Thanks
Our rights are in the N1/2 of th SE1/4 of League 287 of Gray county school land in Gaines county, best I can tell SE of Seminole.
I’d also be interested in more information about current lease rates in Gaines county. My minerals are in Block G, just SW of Loop, TX and I have been approached by a third party land company for a 3-year least with a 2-year extension. Is there an online resource that gives information on current lease prices per NMA?