Getting an offer for $800 with 3/16 royalty.... I believe it will be offered for a 3 year lease. I'm getting the paperwork next week and it's Marathon Drilling... Is this a good offer?
Are those lots or sections?
Sorry Michael... It's sections
Michael Hutchison said:
Are those lots or sections?
Sounds low to me. How many acres do you have?
only 6.25 acres. it's pretty spread out between my family members
Marcus T said:
Sounds low to me. How many acres do you have?
Why do you think it's a low offer? From what I've heard, that's the going rate in that area.. just curious
Marcus T said:
Sounds low to me. How many acres do you have?
It’s definitely not a lowball offer, but I think I’ve heard of others getting up to $1,200/acre at that royalty in that immediate area. If it were me I’d go for higher royalty even if it took lowering the bonus. 6.25 acres can produce a nice monthly royalty and every percent counts.
Thanks Marcus... I appreciate the info
Marcus T said:
It's definitely not a lowball offer, but I think I've heard of others getting up to $1,200/acre at that royalty in that immediate area. If it were me I'd go for higher royalty even if it took lowering the bonus. 6.25 acres can produce a nice monthly royalty and every percent counts.