I recently found out through a brother that we have had an offer to lease some 400+ acres of a total of about 920 acres in Richland county Montana. This is a second offer after being offered $20 acre originally last year. They have come back with an offer of $30 an acre and 8% royalties. This seems extremely low to me and we don't have any experience dealing with this. We didn't even know we had inherited these mineral rights until they had found us through research. I have a description of the property but don't have a clue if there is any productive wells in the area and don't know how to find out. Any advice would be greatly appreciated!
Glen