Can anyone advise on range of lease bonus rates and royalties in Lea County for current offers?
Michael, i have askd many times about the going rate in various and on various tracts, primarily in Texas counties. Very seldom if ever do i get a response and even then they lack substance.
You might want to share where exactly it is in Lea County and what percent you own. Then share what you have been offered, what you think about it and see if others might provide opinions.
My goal is to always get a 25% cost free royalty and i always want the lease on my lease form as opposed to “the standard producers 88” which has been modified for the benefit of the lessee.
Term, depths, activity around you are very relevant and there are a lot of knowledgeable people on this forum. Also as my partners say “when all else fails, greed will prevail.” By openly sharing you nust might find other interested parties. Good luck as i know my Lea County wells are some of my best and have been for many years.