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.