The last three leases I've given in Montague in '14, '15 and '16 were all for $400 per net mineral acre and 1/4th royalty for three years with no extension. Never give a lease for an 1/8th and always hold out for 1/4th if possible. You need to locate some modern lease riders as well; vertical/horizontal Pugh clause, free royalty, 90 day pay, access to records, minimum royalty, limited shut-in periods, etc.
1 Like