Can any tell me what percentage landmen get for making the deal with an oil company? How are they paid?
Sallie,
I am a leasing agent/landman and I get paid a day rate.
KSA
Hey guys in McMullen, Atascosa and Live Oak Countys. I would like to know what Oil Companies have paid in the recent past for leasing bonus and royalties. Sure would appreciate your comments!!! Thanks!!!
Sallie,
They most often times earn a “day-rate”. Land service companies that employ contractors pay landmen a range of around $200-400/day, but they charge clients more than that to make a profit. They also employ a select few in-house landmen to review the cheaper, less-experienced landmen’s work, so this allows them to make a profit while ensuring their work product is “acceptable”, which is not always the case. When hiring a landman yourself directly, you can expect to pay $400-600/day for someone with adequate experience. These are just estimates, but should be fairly accurate in terms of current market conditions and rates.