Hello,
I am new to this since I inherited some mineral rights. I have been contacted by a company requesting to lease part of our holdings. Specifically in Township 14N Range 63W, Section 32. They are offering $100 per net acre bonus. I assume this is negotiable and I am looking for advice on a starting point for the negotiation. The royalty is 15% and term is 5 year with a 3 year option to extend. I am already going to ask for an additional bonus if an extension is requested. Any information on current trends or advice would be appreciated.
Thanks in advance,
William