My sisters and I were just made aware that we were part owners in the mineral rights of 320 acres in Weld County, Colorado. The lease agreement sent to us was for 5 years @ $275/acre and 17% landowner’s royalties. We are very new to this and don’t have any idea what a fair offer is. Any information is greatly appreciated.
This is a link to another thread that has talked extensively about the topic:
I know a local oil and gas professional who could negotiate a much better lease than what you are currently being offered.
Below is my contact information if you are interested.
Tammy: We are in Weld County: T6N R61 West of the 6th P.M. For 3553.26 Gross Acres/11.65 Net Acres, I have received a bid of: $500 -7 year term poaid up 1/6 Royalty
Like you I am trying to evaluate this bid. A news story from the Denver Business Journal: http://www.bizjournals.com/denver/print-edition/2010/11/05/dia-ready-to-lease-out-mineral-rights.html
Feedback is appreciated, Tom
My family holds mineral rights in Weld County: T7N R65 West of the 6th P.M. 330 Acres - split in two parcels. Anyway, we received a bid of $400 per net acre, 3-years, and 18.75% royalty.
We are fairly new to this and trying to educate ourselves during this process.
Thanks for sharing your information.