Hello-
I have a small share of mineral rights (only 9 acres out of 360 gross) and received an offer to lease. I don't know what shale it is, but the land is located in PANOLA COUNTY, TX at:
-Thomas Alston Survey (A-11) and
-Jane Thorp Survey (A-665).
The lessee is Rockliff Energy LLC.
The offer is $500/acre for a 3-year paid up lease with 3/16 royalty. Since I have such a small number of shares, I'm not so concerned if the "going rate" is $500 or $525... I just want to make sure it's not significantly higher, making it worth my effort to negotiate.
Thank you for any insight you may have.
Merry Christmas!
Hello Michael. WELCOME TO MINERAL RIGHTS FORUM
Next door to the Southeast in A-437 Rockcliff Energy has 2 approved permits for 12,000' Haynesville Shale gas wells....permits approved 12/12/2017.
A producing horizontal gas well to the South of your minerals in A-5/Devon Energy(369-37762)/Lease 265571/Well 10H---for the first 2 years of production produced about 1 million cubic feet of gas per day. Production began on October 2011.
The $500 per acre bonus money sounds OK but the Royalty should be 20-25%....also you need a 'NO DEDUCTIONS' clause in the lease you sign.
GIS Map of Panola County A-11:
CLICK ON MAP TO ENLARGE
Clint Liles
Thank you, Clint!
A Merry Christmas to you and your's!
