Trying to find out going rate for acreage available for lease in Martin County … bonus, term, royalty etc. Thank you.
The minimum royalty would be 25% and the term should be a maximum of 3 years with no extension option. Bonus amounts could vary according to what part of the county and if there are currently any wells permitted on the tract.
Tracts in Martin County are quite valuable. If you post the legal description, the forum members can provide you with information about what is going on in that area. Also, you might consider reaching out to the forum sponsors to see what lease prices they're witnessing in your area.
Best of luck!
Following is what is available to lease:
S/2 SW/4 & SE/4 Section 29, Block 36, T-1-S, T&P, all rights from the surface to 8900 feet subsurface.
We own approximately 60 net mineral acres.