I just received an oil and gas lease offer for property in the NW part of Taylor County, TX (near Merkel). The bonus offered is $25 per acre and the royalty offer is 1/8 (12.5%). This seems low to me on both sides, but my only recent experience is with leases in Dawson County where things are a lot more active.
Can anybody offer information about what other offers are looking like in Taylor County? Thoughts on the level of exploration and the success rate in that area?