Curious to know: What sort of lease bonus offers have folks received here recently? Just hoping to gauge what is reasonable to expect in the current climate, any anecdotes or even just a range of $$$/acre would be incredibly helpful. Thanks in advance!
$3500/ nma for BLK 13 Section 290 South Half from Henry Resources. They have insisted on using their basic lease form and didn’t want to remove the Warranty clause. We are discussing payment royalties from gross proceeds vs net. They don’t seem to be in a great hurry, at least not like some of the leasing in the past!
In 2020 August or September we negotiated during the height of the pandemic, for 10K PNMA 3 years 1/4 royalty on our attorneys lease form. Ridgefield I believe was the name. Oxy drilled 4 wells in which we have an interest last year, in 2021. Good luck!
Further, with the price of oil per barrel in todays market… I expect high lease bonuses in Reeves County particularly. Where are your minerals located?
They are all in Ward County. Do you think the appraisals are based on what is projected for the fall?