What is a fair price (bonus per acre, plus royalty) for a 3 yr. lease in Burke County, ND?
The answer is going to be very location and situation specific. You are going to have to give a lot more information to get a useful answer. Township Range and Section for starters. The answer will be different if you have a whole section or just a few net mineral acres. How close any wells are to your acres and how well they have done. If you gave the location, I could easily find wells and their production if any are near you.
163N R90W 5th P.M. S22W1/2
You are surrounded by production and there is Madison production in your section itself on 80 acre spacing. There appears to be additional possibly producible formation/s. It looks like Petro Harvester has a couple of permits on the border South of section 22.
The most recent information I have for that general area came from a friend of mine who had 480 acres which he leased for $250 per net mineral acre and 17.5% royalty about 3 years ago. Cornerstone wanted my friend to give water free but he didn't agree to that. My friend did get several protective clauses to protect his surface lessee as it was a working farm.
Is your lease offer for a single formation or is it "to the center of the earth"? If they just wanted to drill the Madison I would give one price, to the center of the earth would be another because the operator may not be interested in exploring all formations and these wells can be long lived. One of the wells near you has been producing 1958 to present. Much can change in 60 years and I wouldn't want an operator to hold a formation of mine without producing, if I could help it.