Hi. I’m currently receiving royalties from a vertical well and have been receiving purchase offers for my mineral rights. I’ve held on believing they knew something good would happen. I’ve now received a lease offer for a horizontal well at a greater depth. How do I research and negotiate the best bonus and royalty interest? Thank you for any help you may provide. I believe my family and I were fortunate with our first leasing experience turning into production. However, I feel more riding on this because I believe the area to be viable and my family (Mom, brothers, etc.) are looking to me for guidance. And I’m not sure what I’m doing and would appreciate any assistance!
This area is valuable. Go back to your first lease and determine if you have a depth clause. If not, then you may not be able to lease. If you were pooled on shallow horizons, then you may be able to lease.
The private lease bonus amounts are not public data. The closest you can come is the pooling amounts from the surrounding sections. Or offers that folks have posted here. The last I heard, section 8 had offers of $2750 3/16 $2250 1/5 back in 2017.
FYI for you Martha — just completed a lease in 36-9N-4W for $4,000 and a quarter.
Nice!!