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
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Permalink Reply by David Spencer on
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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.
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Permalink Reply by Bob Donaghy on
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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.
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Permalink Reply by Kim Wilcox on
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I'm from out of state, can u give me the name of a lawyer in the area that could help me.
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Permalink Reply by Nancy Mosley on
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Lease wording is very important.
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