I have been offered $400 and .20 (three years) on property SW of Big Spring. I think I read
somewhere that .25 is the going royalty rate in Howard County--not sure--and I don't have a clue what to counter offer on the bonus. Any help is much appreciated--I know no one in Howard County.
I am trying to find the leasing agent, what company approached you for this mease?
Cathi
I have to agree with Pete on this. Not all property is created equal. Of course the door swings both ways, the majority who set the hypothetical going rate aren't always the sharpest knives in the drawer, and if alot of them leased early in the play they could bring the average way down. The operator can also have you over a barrel in some situations and leasing would be the better of decisions available. You have to figure where you are at on that scale.