I’m trying to find out what the going rate for signing bonuses are in Dallas and/or Tarrant counties. I’ve been approached to lease 15 acres and the drill site will not be on the property. We were approached in 2008 for this same property at 22K an acre.
From what I’ve seen, you’ll be fortunate to get +/- $5000 per acre these days in the best parts of Tarrant County, with a 25% royalty.
Kay,
Unfortunately, from what we've seen lately, oil companies are trying to keep their leasing costs to a minimum in this area. We've seen $1500-2500/acre recently. Let me know how this goes, we're very familiar with these counties if you have any questions.
Best,
Sean Bellomy
Just curious Kay, but how long was the term of the lease?