Hello, I have received letters from two different companies interested in leasing my mineral rights (a very small piece of land under an acre). What is a typical leasing bonus? Is it worth getting an oil and gas attorney involved in signing a lease?
Yes, is the short answer. The lease could run for many years if a well is productive, and you are in essence selling the oil. Or look for a form that is not the typical producers 88. Buddy Cotten used to have one for sale but I haven’t looked since 2016. The forum seems very quiet since the re-vamp, and I am not expert enough to help. Just a fellow mineral rights holder.
it is definitely not worth hiring an attorney to negotiate a lease that is under an acre. You should get around $3-5k an acre or so.
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So sorry! I am just seeing your replies the legal description is lot 13, block 16 of the north gate addition section 4 of the city of midland as recorded at play cabinet c, page 58, plat records