What is a good rate for mineral rights in panola county? net acreage is 262 and area is L Maragle Survey A-438. My relatives were offered $500/acre but I heard that was low. Thanks
It depends on what part of the county you are in. Where is the survey?
Offers aren't near what they were a few years ago, but that doesn't mean $500 per acre is good either. The first offer isn't usually the best.
Panola County mostly produces natural gas, but they might be going after one of the wet gas or oil zones in the area. Do you know what they plan to drill?
What royalty were you offered?
John Harris survey 328. I already signed a lease for 3 years .i have 50 acres and actually 6.25 mineral acres. I received a bonus of 3125.00 for the first 3 years which is 500.00 an acre. I really no very little about this whole thing. If oil, I receive 333.00 royalty. I Don’t know if this is monthly as I don’t fully understand the lease. Maybe you can explain all this better. The drilling starts this Oct.
survey in panola county
Mineral Guy said:
It depends on what part of the county you are in. Where is the survey?
Offers aren’t near what they were a few years ago, but that doesn’t mean $500 per acre is good either. The first offer isn’t usually the best.
Panola County mostly produces natural gas, but they might be going after one of the wet gas or oil zones in the area. Do you know what they plan to drill?
What royalty were you offered?
In panola county. John Harris survey. Royalty is 333.33. I guess this wouldbe a month? I don’t really understand the lease much. I inherited mineral acres so this is all new to me. Any information is appreciated. Drilling is supposed to begin now October. Does anyone inform you if it is really happening. I am in California.Thanks everyone for your help.