I received a Paid in Full Lease offer with 1/8 royalty. I am wanting to know if anyone else is receiving lease offers in Section 82 Cert. 514 NW of Seabreeze? I feel this is a lowball offer. Does anyone know what the lease bonus and royalty is running in this area?
Most folks in TX want a 1/4th royalty. If you have never leased before, it would be wise to get a good oil and gas attorney to look at the draft lease. The drafts are rarely in the mineral owner’s favor and need some substantial edits to get more in your favor. They can often negotiate for a better royalty and bonus.
Thank you for your response. I was thinking along those lines as well.