I inherered about 1 net acre on block c-24 section 20, and c-24 section 16 in loving county texas and received a call to lease for 4k/A . Does anybody know is this is a good offer?
The royalty that goes with that lease offer is important. But even more important are the clauses in the lease. If the royalty is 1/8th, then that is way below the norm. If it is for 25%, then more normal. It would be wise to get an attorney to negotiate for the lease. If there are any other heirs, you could all share the fees. Most first offers I have received are somewhat low, just to see if someone will bite. I always ask for more.
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