Hello. I just received two lease agreements for separate interests in Kern County, CA. I am not that interested in the 1/6 royalty rate but feel that the lease rates per acre are considerably low, plus the properties are close and the two different landman are offering very different rates. Please advise on what terms I should be negotiating. Thank you in advance.
Specifically, where is your land located and how many acres do you have. What are the name of the Companies that have made the offer?
I am not comfortable giving out that much information on the internet. The information I have heard is anything under $300 an acre is highway robbery. It is a “hot” area right now so I would expect more than $25-40 an acre so wondering what is acceptable??
One property is 156.96 acres/9.42 net acres and I need to verify the actuals. The other property is 4.8 net acres and is township 27 south, range 23 east.
Catherine, any further info on current rates per acre being offered?