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re: Oil & Gas lease offer for a recreational property in SW Miss. - what to look out for
Posted on 5/14/21 at 7:43 am to nolaks
Posted on 5/14/21 at 7:43 am to nolaks
quote:
i don't think $50 is unreasonable. Maybe do a one year for $50 and a bonus option after one year for another $25. That is a really light royalty if there's no other burdens. I'd fight for a little more of that. That is where the $$$$ is if something pans out.
If they don't find any grease then the money for the mineral owner is the leasing cost. Never take fifty bucks an acre for leasehold (that's so 20th century). Oil and gas landmen sit in an office and talk about the lowball first offer. And they don't want a 200 acre unleased track right in the middle of their business. Get more lease bonus!
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