Anybody Knowledgeable About Oil and Gas Leases?

[peggydavis]

That's quite a bonus per lot. They must think there is a lot of oil or gas under your land. Good luck, Synopsis!

[needtoknow1]

I just got an offer of 3/16 royalties and probably $150 acre signing.

The signing could be up to $1200 an acre (I need to clarify). There are 8 of us that own part of the mineral rights and I need to clarify whether the signing was $150 total or my part.

The mineral rights are in McClain county. I was told many years ago that there was oil there.

Should I be asking for more?

[selectlady]

I received an oil, gas and mineral lease offer for 125 acres in Lee County Texas. The offer was $150.00 per acre. Oil has already been found in Giddings Texas near our property years ago and is still producing. Someone showed me an offer they received in Marshall Texas for $500 an acre. What is a good price?

[Goodpasture]

I don't know exactly where, but down near McAlester a fella just leased his 200 acres for 2 years at $1,700 an acre.

[orangepete]

New to this oil and gas leasing. Have property in Pawnee County, Oklahoma have been offered $35.00/acre for a 3 year lease and 1/6th royalty. What do I do?

[Synopsis]

With the Barnett (sp?) shale underneath us here in the mid cities area of DFW, our neighborhood association (not one of THOSE NAs, but one specifically for negotiating a better lease agreement) negotiated a $20,000.00 per acre signing bonus.

Although we only own 1/3rd of an acre, that's still more than $6K we will get in about two weeks. In addition to that, they negotiated for better royalties. The neighborhood association is made up of a former Hurst Mayor and other city leaders.

Hurst Neighborhood Association

I was amazed to find out that we all own the mineral rights to our property here in Hurst.

[Goodpasture]

Hire an oil reserve appraiser.......get someone who has experience reading the logs and knows production. Absent that, contact other oil companies and see what they will offer........