Has anyone gotten recent lease offers for this area or know the going rate per NMA? Thanks!
The last lease in that section was Nov 2021. Bonus amounts are not public. The royalty rate was 3/16.
I have an offer from February for $50 NMA at 3/16ths. They started with a much lower price. Company wants a 3 year lease with 3 year extension.
Welcome to the forum.
Personally, I never do an extension. They are rarely in the mineral owner’s favor and too much can change in three years, even more in six years. If you have not leased before or in an while, it is wise to get an oil and gas attorney to review the draft lease as they usually need a few edits to get more into the mineral owner’s favor.