We have several leases coming to termination in Burke County. Any suggestions as to a dollar amount to start negotiating with Leasing organizations… Thanx…
Pamela:
Could you be more specific as to where in Burke County your minerals are located, Township/Range/Section? Your bonus amount will be greatly impacted by the quality of wells near your area. Educate yourself on the wells in your area and become aware of the production figures on these wells. I would not negotiate for less than 20% royalty and no longer than 3 years. You can utilize the GIS map on the NDIC website to obtain names of wells near your mineral area but you must subscribe to a publication to obtain production figures. If you would post some of these nearby wells, others on this board has access to the production information and will most likey respond to your matter.