Got a lease offer in B Mitchell A 435 and Sparks A552. 750.00 @1 /5th 3 year with option for 2 years with another $750. Seems low, any thoughts? From Aethon
I’m no expert just a fellow mineral owner but I ran across a similar situation in west Tx a few weeks ago. Offer came in for $450 an acre and 1/5 royalty. Activity and leasing nearby 1 to 2 miles away. Counter offered for $3500 an acre and 1/4 royalty. They came back at the 1/4 and $2250 per acre.
Thanks for your input. It looks like they are after the Haynesville Shale in Angelina County. I just don’t want to jump too quick then have my neighbors get more. The same company drilled less than a mile east a lottle over a year ago and it’s still producing around 500,000mcf monthly.
Not much. 3.125 Net Mineral acres but it involves 22 tracts. Other family members own a like amount. So collectively we have about 10 acres. I don’t like guaranteeing a two year extension for $750 some 3 years down the road either.
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