I own mineral rights on about 80 acres in Carbon County, WY. A landman contacted me with a lease offer at $150/acre and 18% royalty. This is the first time I’ve been approached. Does anyone know what current lease terms are like in this area? Wondering if I should negotiate or wait for better offers.
That’s on the low side for Carbon County. I’ve seen offers closer to $250/acre with 20% royalty in the last couple years. Definitely worth negotiating.