Fair royalty for oil and oil shale?

Question

Have people asking about mineral rights to land. Thirty years ago, these lands were leased to Amoco, but they did nothing with them. Questions: what is a fair percentage royalty to ask for? Oil? Oil shale? Is an upfront payment normal? Thanks for your insight.

Answer 1

For a royalty interest its usually 1/8-3/16.   You get an upfront payment for the lease per acre.

Answer 2

all yopu can get