I am trying to find out a fair price for mineral lease in Nolan County, Texas. We were approached about $75/acre and 3/16th Royalty (or 18.75% of total price) with option for 2 year extension at $75/acre. Looking at about 840 acres of minerals. Is this a fair price?
I’d counter with $150 per NMA, ¼ royalty, and a three-year lease with no extension. What’s your legal description?
I have not been online for the past week and am just now replying. I have had no offers, so I do not have any reference offers. I do agree with the 1/4 and shorter term. Nolan County has been hot and cold for years.
All of Section 96, Block 24, South 200 acres of East 1/2 of Section 85, Block 24 West 310 acres of Section 85, Block 24
Offer is now $100/acre + 20% Royalty and $250/acre if 2-year extension picked up in 3 years.
Similar to our offer in Nolan for 250 acres. $100 pnmi, 3/16 royalties.
Is your land close to this we have rights on? We were offered the lease by Mesa Ridge Land Company for Scott Oil.
Block 64 Section 200 at Hylton. Equitas Energy.
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