I recently received an offer for a lease in Woodward County for 300 an acre. I noticed on my mineral registry that Woodward County leases are 1250 for top dollar and 800 average. My question is am I being lowballed and can I renegotiate a different price? I feel I am being taken advantage of but could use the extra cash. I am sure they are making way more than I am on this deal. If anyone has any information would be fantastic. I have not leased since inheriting the land from my mother years ago. Thanks so much!
Scott
Scott,
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It is160 ac. in Section 7-22N-17W. I will not sign my lease since this seems to be very low. My brother is an owner too and he is not signing until we know more info. I have also read that some people sign the lease and do not get paid.
You should do more, a lot more, to research the pluses vs negatives of signing these onerous leases. There is so much to consider.
Everything is negotiable. And remember, someone who wants what you have is because you have something they want.
Good luck,
Pat