I’ve been offered $400 bonus and 3/16 for a 3 year lease on a .0135220 interest in 152.825 acres in Sec 15 NE Qtr.
I can’t speak to the bonus amount for Gaines County, but just about everything in West Texas should be a 1/4 lease. Some folks will send a letter offering to lease your minerals for say $1,000 an acre for 1/8th lease, $750 for 3/16ths, $500 for 1/4 but that’s mostly a first round negotiating tactic. Just talk to them a little bit and make sure you get a 1/4 lease.
NO ABSOLUTELY NOT. You should get at least 25% 3 years is ok but with no option and $750 would be a better bonus.