Hi Joe, I am a mineral owner as well and always looking for information about leasing. The offer $500 per acre for one year is a good price. The 3/16 royalty is the going rate or higher from what I have heard. Who is the oil company that is making the offer? I would be interested to leasing some minerals in Burke County, North Dakota.
Thanks, Dale Walsh 701-220-9811 dwalsh500@gmail.com