Unleased parcels are available for negotiation at any time. All leases will be negotiated individually. Successful offers are the best combination of bonus and royalty rate as determined by the Minerals Director. Any party interested in making an offer on open acreage may submit an offer using the Lease Offer Form emailed to Julia Johnson. Offers on an expiring lease may be submitted one week prior to expiration, but won’t be considered until the expiration of any existing lease. AgWest Farm Credit does not top lease or grant options to extend leases.
Leases will be issued on the AgWest Farm Credit Delay Rental lease form for a maximum five-year term and with a $1 per net acre or $20 (whichever is greater) annual delay rental. Tracts with less than a 25% mineral interest will require a 1/5th royalty. Paid-up leases are available but not for a term longer than three years.
Should multiple offers be received on tracts, parties will be informed. The Minerals Director will set the term and royalty, then each participating party will be given one final opportunity to submit a bid for the bonus.
The maximum amount of acreage dedicated to a lease will be one section, unless AgWest Farm Credit determines that it is in its best interest to include more in a lease.
When ready, lessees will receive a copy of the executed lease along with a 20-day Order for Payment letter outlining bonus consideration payment instructions.
AgWest Farm Credit reserves the right to accept or reject offers as determined by the Minerals Director.