re: OT oil tycoons that have property with oil/gas leases, a question:

1/4 royalties are common in South Texas. 3 year primary term with 90 or 120 day continuous drilling obligations are as well. Lease bonus is determined by where in the play you are and can vary drastically from $500 - $20,00 pee acre. A companies willingness to negotiate will depend on your location and whether or not it's a large and or contiguous lease. An experienced oil and gas attorney can help you negotiate among other things how your royalties are calculated (deductions associated with treating and transportation for example).

You get a nice check with the lease bonus but you accumulate wealth through better royalty terms such as percentage , pricing used, and allowed deductions.

Hope this helps.