My sister and I have the mineral rights to some acres in Converse County, and an oil company has offered us a three year lease with a two year option to renew (I assume it is their option). They are offering $175. an acre and 15% royalty. Not sure if the $175 per acre is per year, or just a one-shot bonus for signing. Is this a good price? We've already had an independant speculator offer us WAY LESS than that.
Also, if they have a lease for the oil, can we still also lease to a uranium company at the same time? I's think their work would interfere with each other.
Haven't seen the actual lease yet - this was an offer via phone and email. They will send a lease for our review if we say we are interested.