Anyone know what a 'going rate' is for leasing minerals in the referenced area?
If you go to the Reeves County, TX group you can read the other lease rates people are receiving. As you will see on there the going rate is anywhere from $1,500-$3,500 per acre. Hope the information helps
Depends on location and your particular situation, but going rates may be $8500+.
WOW where would that be in Reeves County? We have a lease coming up in the spring
We have already been approached on this acreage and was offered $3,000/acre. Declined that and said that we had heard leasing was $6,000 and up. The landman said he couldn't do more than $3,000. He called back 30 minutes later and offered $6,000.
I did look through that county but didn't see our acreage (noted in title) discussed. Thanks for your reply!
Wow, great win on that negotiation. Congrats!
We are in BLK 54 T4