We have been offered: Bonus consideration equal to $500 per net mineral acre - 3 year primary term and 3/16 royalty in the 05-05N-01W area by RedSky Land LLC. Is this decent offer? Sounded kinda low compared to some of the others in the area.
That is in the ball park for the area. That section is under a revised pooling order that lasts until Dec 14, 2018. Were you previously pooled? The original pooling in 2016 was $200 3/16 and has been extended twice. The new offer sounds good, but you may be held by a previous order. Check your paperwork and any notices from the OCC. If you have not gotten any or just inherited, private reply to me and I can point you in the right direction.