I recently was contacted about leasing my mineral rights in Canadian county. I have 3 acres and their offer was $400 an acre with 3/16 royalties for 3 years. $400 seems a little low to me…
I always ask for what they are offering for 1/5th and 1/4th. First offers are usually low, so there is usually room for negotiation. I prefer a higher royalty and am not so concerned about the bonus. The clauses in the lease are more important. It is wise to get legal advice from a good oil and gas attorney. The draft lease from the agent is not in the mineral owner’s favor and needs significant edits. An investment of good advice can reap rewards in better royalties for the life of the lease.