Info on leasing

I inherited mineral rights with two wells a couple years ago in Tyler County. I really don't know much about them. I was recently contacted by EQT about leasing them for $400 an acre. Is that a normal rate? Any help anyone can give me is greatly appreciated. I'm from out of state and not informed of current information.

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Replies to This Discussion

Permalink Reply by David Spencer on March 18, 2013 at 6:25am

There are a lot of factors that affect the value of your property in regards to lease offers.  We have negotiate 2 leases in the last few months, one of which was in excess of $3000 per acre.  You should research for a local lawyer who knows the value of the property.

Permalink Reply by Bob Donaghy on March 18, 2013 at 6:30am

That is the worst current offer I am aware of. Two offers I have seen this year were $3000/16% and $2500/15.625%. Both offers were standard 5 year oil/gas company contracts with limited amendments.

Permalink Reply by Kim Wilcox on March 18, 2013 at 7:07am
I'm from out of state, can u give me the name of a lawyer in the area that could help me.
Permalink Reply by Nancy Mosley on March 18, 2013 at 3:57pm

Lease wording is very important. 

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