Own 60 acres 8 miles outside West Liberty in Morgan County. Exterra Resources has offered $200/acre bonus and 1/8 royalty. Has anyone dealt with this company and is this a fair offer for the area.
Bonus amounts between $200-$300 per acre seem to be what most are offering now. Although I have heard of amounts as low as $80 per acre and below. 1/8 or 12.5% is typically the base offer on royalty % before deductions in a standard paid-up oil and gas lease. Although I have heard of more. Both can be higher depending on negotiations, activity in the area, and more. Also deductions can eat up 2-4% on average or more of royalty percentage depending on operator.