Replies to This Discussion

Permalink Reply by Skip Peel - Mineral Consultant on January 27, 2010 at 10:18

Mack. If your acreage is in the western two-thirds of the parish, $10K to $15K at a minimum. It is impossible to be more definitive without some details. The location has a bearing. Also if the property is contiguous, which townships/sections it lies in and whether it has one or more surface locations of value. Every mineral tract is different.

Permalink Reply by Henry on January 27, 2010 at 12:44

Mack,
With 688 acres, you should be thinking hard about provisions in your lease, as well as the bonus amount. You might easily negotiate for cost-free royalties. good shut-in provisions, surface restrictions (you can be explicit about what parts of your land the driller may and may not access), etc. This site is full of good things to think about that might go into a lease to protect you. And, as everyone on this site will tell you, and especially with so many acres, GET A GOOD LAWYER!