Smith County Texas for the standard three year lease with an option for another two

[Donna_MacDonald]

I own about 3 acres in the larger parcel noted in green on the attached map. I’ve been offered $100 a mineral acre with a 3/16 royalty. Can anyone tell me if anything’s going on over there? I don’t know. $100 a mineral acre sounds a little low; we just leased another parcel in Smith County for $300 an acre in the T. G Gardner survey A-373 Smith County.

Any advice?

A-503-02.pdf (155.7 KB)

[M_Barnes]

Most folks in Texas would want at least 1/5th but prefer 1/4th with a no post production costs lease and no option.

[Donna_MacDonald]

Thanks for responding to me. I appreciate it. I ended up countering with 150 per mineral acre and a 1/5 royalty interest which they accepted. Thanks again for responding.