Need some advice. Landman is offering me $10 net mineral acre that he calls a bonus. 3% royalty on 32 acres of mineral rights for drilling for lithium. Not sure if that’s reasonable for 32 acres or not. Not sure how to find out what the owners are getting that’s located next to my acres. Not sure if it will produce enough money to justify lawyer fees to let one look at it. The thirty two acres is being divided between three siblings. This is all new to me and any advice would be appreciated.
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What state are you leasing in. Some states have a minimum lithium royalty set and others are still flexible. Do you own the surface acreage or mineral acreage or both?
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Bowie County Texas. I do not own the surface rights but that didn’t seem to bother him because we are being lumped in with several other acres in that area. Just not sure we will make enough to justify attorney fees. It’s all new to me.
Welcome to the forum , if you could please share the state, county, and Section , Township, Range , Not sure we can help, lithium is a new mineral and every state is different on there payments , I have some in Arkansas, but hopefully you can get a answer! Thanks for joining, good luck .
It’s in Bowie County Texas. Out in a very rural area. 3% seems low, but not sure what it should be. Thanks for you help.