That’s a better deal than I have heard of in the past, try to get at least 23% royalty and $400.00 per acre. Someone did drill in that area and they have up to 3 months to report the results then the TX RRC posts it on the RRC public map viewer website, check it out.
As for a company that will actually drill there, that’s up to the company. A lot of the time they DON’T drill on a person’s land and the lease expires. I am told that that area is a wildcat area and that there is no history of oil production there, BUT that area is supposed to have three major formation trends under it and that there is oil there.
Try to get more per acre and more of a percent of the royalty.
Mark