Lease Bonus - Lea County

Received a lease bonus offer for interest in T15S R36E. What is a reasonable offer?

fwiw, these are State Leases that went to auction in 2nd half of 2020. Winning bids ranged from $50 to $219 per acre. For a 20% lease and 5 year term. Winning bidder for all was Levi Sap Nei Thang (feel free to look that up) which may mean that those bid amounts are insane or genius.

But on the surface that seems believable for bonus, basically not much.


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