Offered lease in Joseph Walling Survey

Texas Mineral Rights Houston County, TX
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Mineral rights total newby here! Received an offer from Sean Butler, Drake Exploration, LLC for mineral rights I didn’t know I had inherited in Houston County, TX. Got the typical lowball initial offer, but was wondering if anyone has an idea of what the NMA should be for this survey. I don’t see this survey mentioned anywhere on this site so far. I already plan to counter at 22%, rather than accept their 18.75%.

Last, the offer was verbally stated as coming from Drake, but the actual lease refers to agreement between me and Expand Exploration, LLC in Oklahoma City, OK. Any problem here that any of you have experienced?

Many, many thanks in advance.

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Be careful on the Drake and Expand leases. They have language in their lease that says they have a right of first refusal even if you decide to sell the property to someone else. In other words, you are not allowed to sell the property or minerals to anyone else unless you offer it to them first. It is a total deal killer.

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Low ball offer. $1,000 and 1/4 at today’s prices.

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