Average Lease Bonus in Ohio
Average Lease Bonus in Ohio
If you’re looking for the average lease bonus in Ohio, this is the BEST information you will find!
To put it simply, if you’re searching for the average lease bonus in Ohio you’re going to be searching for a long time because you won’t find the answer! Even though you won’t find the answer, we can help you better understand what you need to know about your mineral rights.
Average Lease Bonus
The average lease bonus in Ohio could be anywhere from $0 up to $2,500+ depending on the area you are in. That’s a pretty big range! The reason that the range is so large is for a number of reasons (discussed below).
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Factors Affecting Average Lease Bonus in Ohio
With such a large range in the average lease bonus in Ohio, what is the reason behind that? The average lease bonus is affected by the following factors:
Timing: Did your neighbor get a $500/acre lease bonus last year? This year that number could be $2,500 or it could be $50. The average lease bonus being paid can vary a lot over time so knowing what the average lease bonus was 1 year ago or even 6 months ago may not be relevant today!
Production: Once operators have drilled a few wells in your area, they will see what production they are getting and that will affect the lease bonus prices. Even though your acreage may not produce the same, they will use nearby wells as one indicator.
Location: We hear from mineral owners frequently who have a neighbor who got $XXXX for leasing their mineral rights. They assume they should get at least that much because they live nearby. The problem with this assumption is that even nearby neighbors can have different geological properties than your mineral rights have. This could mean your mineral rights are worth less than your neighbors OR it could mean they are worth more. Location matters!
How to Determine Fair Value for Lease Bonus in Ohio
The best way to determine the fair value for a lease bonus in Ohio is to get the property in front of as many potential lessors as possible. Why? When you get the property in front of multiple companies, they will compete to pay you the highest price possible. If you want to maximize the value of your lease bonus, you should list your property online with a company like US Mineral Exchange who will help you get the highest lease bonus possible. Their team can also help you negotiate the best possible lease terms to ensure that you get the best deal!
If you’ve received an offer to lease your mineral rights, take your time and ensure that you get the most for your property. The worst thing you can do is accept the first offer you receive!