Hello, received an offer to lease for the above-mentioned mineral interest. Own a little more than 14 NMA. Offer is five hundred PNMA, 1/4 royalty, and three-year lease with a two-year option. Any ideas on going rates? We don’t do extensions that often so that is gone, but what is the going rate for this area?
Thanks.
I’m not sure about that specific area, but I ran across a site and they preach about showing going rates around your property. Might be worth a try.
Bill
Negotiated a lease this past week on the above interest. $800 pnma, ¼ royalty, three year, no extension. Also our addendum with minor changes.
Received a Division Order today on this interest. The Slippin Jimmy Fee #1H. Steward drilled and completed this one in record time!