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.
this is the first bonus offer they sent and not sure if it sounds fair or not ? We haven’y gotten into lease terms yet just was curious about this offer.
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.
I would not lease for that amount! There a lot of activities going on in these counties and 5 year lease is to long , just my 2 cents, good luck
okay, Thank you and when you say allot of activity, what does that mean. We inherited this land and all the other land has leases and wells on it and have this 18.22 acres available and trying to figure out how to capitalize on this and have no idea about oil and gas just trying to learn. Thank you for your help.
We were just contacted also. Did you find out anything? The landman that I spoke to said $400 per acre for the lease. Waiting for the paperwork in order to have an attorney look at it.