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
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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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