Washington County Lease
Hello,
I have about 8 acres in Washington County and my plot is about 3 miles from Noble County. I've heard Noble county is paying $3k to $5k per acre w/ the average around $3,400 per acre and 18% royalty.
I was offered $2,250 to lease my acres and 15% royalty. My neighbors appear to be accepting this offering so I'm assuming if I don't go w/ this company then I won't be able to go w/ anybody due to my small # of acres. Do you agree?
Also, the Landman said if I don't go w/ them I'll miss out on the money and the O&G company will just go around me. Can the O&G company just "go around me?" I thought they needed continuous acres all leased to drill.
Finally, since I'm so close to Noble county do you think $2,250 acre/15% royalty is fair? I'd really like to get the royalty up to 18% if possible.
Comments please.
Views: 757
Replies to This Discussion
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Permalink Reply by Luke Miles on
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Who is leasing in that area?
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Permalink Reply by darren l on
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I live in washington county and the closer you are to Noble County the better.Have patience and hang in there.Better yet, join a landowner group.Check out Washington county group site.Sounds like offers ive been hearing from "flippers".
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Permalink Reply by Steve Wagner on
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Sound advice! Check into a landowners group. I know there have been $3000/acre and 18% with a good landowner lease!
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