I see that Apache has permitted a well in Sec. 10. We have adjacent property (Sec. 16) and are wondering what the going rates are in that general area. We are in trust and held by a bank so we tend to get leased last but it would be nice to know where to start if/when we are approached. TIA for any help you can give.
You are pretty far south. Likely won't get solid offers until we see how those recently permitted Apache wells do. Right now, I wouldn't expect more than $3k/acre bonus. If the wells bring more activity to the area, then you should get up to $5k/acre.
Thanks, BP. That is very helpful.
No problem! If your interest is open and you want to lease now, feel free to add me as a friend and message me. I can talk to some companies and see what they would offer.
Our interest is open but we don't mind waiting. We just like to keep tabs on activity and rates. This area hasn't had a huge amount of interest until recently. I know there are others near us on this board so they are probably interested in the going rates too. Thanks again!
Sounds like a good plan. If the time comes and you are ready to entertain offers, please feel free to get back in contact with me.