We received an offer leasing minerals in Section 1, Township 15S, Range 36E, Lea County. Can anyone give me a range of current bonus offers per NMA?
Thanks, Mollye
Yes, we were offered $300 an acre and 1/5 RI for N2 Section 22-14S-38E by Steward Energy. What is your offer and from whom?
We have 2 offers for Section 1, Township 15S, Range 36E. One was for 1/5 royalty interest, and one was for 1/4 royalty interest, but we never accept less than 1/4. One was for $450 and one was for $750. We’ve found that it has never hurt us to not be in a hurry. The previous lease offers for Eddy County started at $175, and ended up at $5000 per net mineral acre. That’s been the largest difference, but there have been several instances where we took our time and got several offers. Let me know what happens with your royalty if you can.
Thanks, Mollye, I appreciate it, I will keep you informed. I agree, never in a hurry. I’ve been sitting on the offer since July and there is an email in to their landman, Brad Carter, for a more current bonus offer. This is our only property in New Mexico, so I am working blind with this one. My experience lately has been similar to yours with lease bonus improvements as well as royalty interest. Upton County, Texas started at $500 per acre, 3/16ths, and we ended up with $8,000 and 1/4. I love my landman, Patti West, who negotiated that one! This forum and the NARO site are the ones I depend upon most for current lease offers.
I have seen offers in Township 10S Range 38E at $6,000 per nma and 1/4 royalty. And have a few offers further north and east at the rates of $750 and 1/4. I am also in line with the thinking, if the numbers are not right, wait. We are probably all in a similar situation here. My grandfather purchased these minerals back in the 40s to 50s and they have never been leased. So these are exciting times. I would say we all stick closely together and see if we can strike a deal to bring a large package of minerals to the table.
Sounds good.
Jack, it looks like Patti West has already left you a voicemail on another Andrews County, Texas lease but I have told her that for the Lea County, New Mexico property we should work together with you, and now, Mollye Morris. What a happy coincidence again. Mary Phillips, another Mineral Forum member, also has property in Section 33-24S-36E Lea County in which her offer was $1,000/MA and 1/5.
Just curious if anyone has accepted their offers in Lea County. I have attempted to work with Shaw and a couple of other entities, the largest current bonus at a 1/4 is $750 per acre.
I have an interest in S1 Township 15S Range 36E. The best offer I have had is at $750.00 per mineral acre and 1/4 royalty interest.
That’s what I’ve been offered also.
My offer is for a lease extension of 3 years. Matador has the current lease and also made the offer.
Mollye, who was your offer from if you don’t mind me asking?
Joe Shafer, RPL
Petroleum Landman 903-424-3267
1125 Judson Road, Suite 100
Longview, Texas 75601
903-424-3267 Joe Shafer Cell
903-653-1695 Main Office
Thank you
Did you take the lease with Matador?
Not yet