I have received an offer of $400 per net mineral acre for a 3yr lease at 3/16 royalty. Is this offer in the ballpark with going rates? Thanks for any help.
The closest pooling to you was in December of 2018 for Section 17 at $50 3/16ths, SE4 NE4 so that gives you a ballpark. Make sure you understand the terms of the lease. The first one they put in front of you is probably not in your favor. Read the Mineral Help listed above and ask questions on how to improve the lease.
Thank you very much.