Hello All,
I have 100 acres that I've been approached by a oil company to start exploring. I would like to know where I can find what the current rates are for my area...Madison, Ms. & Gluckstadt, Ms.
Thank you for your help!
Adrien
The going rate in Amite county right now, is at about 300 to 350 and acre but that's a steal of a deal for the oil companies. You should ask for plenty more and let the negotiations proceed. Everybody can get a different deal. If you are sitting in a sweet spot and in the TMS, go for it. A lot of these leases will be sold to a higher bidder for thousands more than what the mineral owner got. A 100 acre lease is important in the overall scheme of building a "Unit" for the oil companies. If everyone around you is leased to the same people then you are in the cat seat if you ask me. I could be wrong about this but I don't think so, I used to lease land and I have personally leased a one acre deal for $2,000.00 an acre for one year and 1/4 royalty. It is highly conceivable you could get a lot more than that if you are in the right spot. I hope you own all 100% of the mineral rights.
Hello John,
Thank you for your response. Do you know of any lawyers that handle these types of negotiations?
Thank you very much!
Adrien