Received a lease offer from a land man on some acreage I inherited in the Somerville, Lyons area. 20% royalty and $400 per acre for 3 years. Is this a low ball offer, was wondering what the per acre price was going for?
Think you’ll have a better chance of finding someone who can answer your question if you post it in the county section your land is in…Washington County, Burleson County? Go up to Counties at the top of this page, then select Texas and then your county.
Also if you can post a more detailed description of where it’s located, like the survey, abstract number, we can help you check for recent activity around there. If you don’t have that tell what roads it’s near.
The other thing I always suggest is trying to contact some of your neighbors, see if they have gotten offers and if they’d be interested in negotiating as a group since larger acreage can mean a better offer.
Thanks, waiting on the paperwork from the lawyer with the details. Its in Burleson County right off Somerville lake.
Welcome to the forum. I moved your question over to Burleson county.
Which producer is the lease offer from?
I just negotiated a lease under lake Somerville for $2,500 per acre, 1/4 royalty for 3 years. This lease was just to the base of the Austin Chalk so I reserved any deeper rights. I think thats the play in that area.
Thanks for the information.
Eagle Valley Energy Partners LLC.
Would you mind saying who offered you that deal?
A landman representing Eagle Valley Energy Partners out of Somerville.
Thanks for the feedback. We haven’t had any dealings with them, but I was more curious if it was WH/Chesapeake working that area.