Any landman working on behalf of NewPenn Exploration LLC letters of acquiring leases? I got one today. What is a competitive price per acre?
First, where is your lease property located? At least a general area of the county. I’m only familiar with one signed lease offer and that has been a couple of years. My best memory.
Two choices: 1) 3-year lease $750, 20% royalty and 2-year option of $500
#2: 3-year lease $500, 22.5% royalty and 2-year option of ???
IMO, getting a lease can be a real positive; but, remember that a lease can and more than likely will have some real gotchas, so don’t sign anything until a knowledgeable and trusting attorney or lease expert has given the lease a good look!
Good luck!
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