I am interested in any information on Lease Rates per net mineral acre in Lea County, NM. Particularily in Township 17 South, Range 37 East, Sections 34 and 35. We received an offer of $400.00. The US Lease Price Report says the most common price in the S/2 of the County is $2,500 and in the N/2 $700. Appreciate any comps.
Was the lease offer from Matador? What % royalties did they offer.
Lease offer from MRC Permian Company via Landman Nathan K Lanham. Royalty 20%.
Matador is doing a lot of leasing in that area. $400 and 20% seems to be their standard offer and I have not heard of anyone getting more than 20%. They have already started pooling efforts, so be aware of that.
We received an offer from Matador for the same $400 and 20% about a month ago then the landman said they reduced the lease area for now. We are 15S 37E.