Uintah County, UT oil & gas discussion group. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
Hi! I have no knowledge as to the going rate for the leasing of mineral rights in the Uintah County, Utah area. I recently received an offer for $100 per acre which seems very low. Any input appreciated. Thank you
I have heard of acreage bonus very recently going for 3 times that amount. That being said0- there are many factors that will affect the pricing: total acreage you own, % of ownership held by you, the area the offer is for, any current activity in the immediate area, etc.
I would encourage you to contact either one of the folowing people for guidance:- Hyrum Winterton, Leroy Pectol, Allan Smith- all are members of the Utah Royalty Owners Association and all live in the Roosevelt, Utah area.
Thank you John.
NEW Member! I have inherited 85 + acres or mineral rights in Uintah County and since I live in TN, I know absolutely nothing about mineral rights, oil drilling - anything! I have been contacted, through an agent, by the Bill Barrett Co which is interested in leasing my rights. What is a fair price per acre for the "signing bonus" and what is a fair percentage to ask for royalties should they drill successfully? In MS the royalty is 1/4 but the agent in Utah said it was not that high in UT. Any help would be greatly appreciated! Thanks, Joan Leonard
Have never belonged to a forum such as this before so may not be doing this correctly.
John, thanks for letting us know about the Utah Royalty Owners Assn - I didn't know about them, but I have just now talked to Allen and am joining.
Thanks you Allan Smith for your help. Will keep you posted. You are a great resource.
I am new to this forum, as I just met Mr. Alan Smith in Utah as part of a visit to our land there. Looking forward to learning more over time. Thank you Mr. Smith for your time this week to visit with us as we toured our land. Very exciting and extremely interesting business to be a small part of.