My lease comes up for renewal soon. I was offered $300 per acre, I told them I want more, we are west of Bonham, so we’ll see what happens.
For what it’s worth, the most recent U.S. Lease Price Report for Fannin County says 12.5% royalty and $25/acre is the most common. $300/acre may be a pretty good offer.
Strange, I received $100 with 15.5 percent 3 years ago. My comment should have said I was offered $300 for my mineral rights. The lease comes up for renewal in 2 months. It appears they are going to drill. This is southeast of Bonham.
Gerald,
After checking the Railroad Commission website I find no approved drilling permits for Fannin County, Texas for the last 12 months.
I have been checking too. Getting an offer for mineral rights was shock. I’m going to follow it, wondering why everything is so quiet. Putting out some feelers to stir up the water a little.