Leasing activity J. Chumley AB75

Does anyone know the going bonus and royaly rate to expect in this area? (J. Chumley AB75 on FM 353).  I have been contacted by a landman offering 1,000/acre @ 20%.  I received a much higher offer on my land in Shelby county 6 months ago.

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Permalink Reply by 5thGenTexan on January 7, 2011 at 4:35

I would not take less than a "no cost" 25% royalty with Pugh clauses etc. 

 

I have been told that "leasing is a full contact sport".  Everything is negotiable.  Do not sign their lease.  Have an oil and gas attorney draw up the lease and nogotiate from there.  Do not get in a hurry.  What you sign will likely be in place the rest of your life.  The lease language is what is important, the bonus money is just icing on the cake.

 

 

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