We had Saltwerx (Exxon) interested in leasing 19.88 acres in Columbia County for the lithium that’s on the way. Inherited all our interests and have never leased land before. Anybody know a good lawyer that can look over the lease offer and help with negations in the area?
Go for the highest bonus money you can get as the state has set the royalty at 2.5%. Try to negotiate zero post-production expenses. Try Robert Honea in Ft. Smith.
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Is this the bonus offer they sent?
We can lease this acreage for $400 per acre for a 5 year lease. Then there is a 10 year option at $75 per acre annually.
Contact Wayne Weathersby in El Dorado, AR. He is a Landman andwill steer you in the right direction. He handles my minerals in Union, Columbia, and Ouachita Counties. Probably, at least 40 years experience.