We have been offered $300/nma and 1/5 royalty four a 3 yr lease. Is this a goof offer?
25% of the hole is standard and $500 a nam only a 3 year lease. Please, Please, have your lease looked over by oil and Gas Attorney, he can save you $1000's and it's a small price to pay for something that will pay you for many years to come. Most of all my leasing is done by Trust bank, this is what they usually ask for and received.
I have a couple of parcels of land in Ward, but not close to you.
Chris
Kevin, The answer is “NO”! I am not sure of the price per net MA in your area for bonus money but who ever the landman is is trying to steel your minerals. Do your home work & don’t rush into an agreement. Chris is correct get a oil gas attorney to handle all negotiations! The royalty percentage is 1/4 or 25% there are good attorneys in this group. There are hundreds of companies in TX looking to lease mineral rights, many with multiple fronts. I get two letters per week. Keep asking questions. Go back an read past postings for info. Mike
Hi, I was contacted by the White Rock Royalty LLC (WRR). They said, they are specialized in making sure the mineral and royalty interest of the royalty ownership is properly accounted for and disperse from oil and gas companies to the proper royalty owners.
Through the course of their investigation, they have recovered around $7,000,000 in owed royalty interest for various mineral owners.
At no cost to me up front, they are willing to start looking through the company's records with my permission to see if I was been paid properly. If they recovered any funds due me, they will be a 20% fee of the funds recovered as fees for work done, and if there are no funds to be recovered, I owe them nothing.
Is there any one in this group ever heard of such company: White Rock Royalty LLC (WRR)?, if so, are there a reputable company?
Is there any royalty interest owners in this group ever represented by this company?
Louis
I have been contacted by White Rock Royalty, This company wants to purchase your Minerals, My Grand Dad's Mantra was you can sell the Land, but you can Never, Never, sell the Minerals. If you think the oil company owes you that much, you can hire professionals to clarify any errors for a whole lot less than 1.4 million. Remember Kevin, The Big Print Giveth, and small print takes it away. Get a Lawyer. They want your minerals and even if they say, they only one a small fraction, the small print will give them ALL of your Minerals. Best to toss any offers from them.
Chris
Okay, great advise. Thanks
I would like to hear from others who had the same experience with White Rock Royalty (WRR)
Louis
Hi, I am new here and have a similar offer. They came up to 1/4 but thought the bonus should go up? Wondering if I counter at $500 NAM or go a little higher to settle at $500. Thanks!
25% royalty is the norm as noted by others. Ward Co is a pretty hot area - anything less than $1000 per nma seems low to me IMO.
Just as important are the clauses in the lease tied to depth rights, production costs and similar issues. This is why one should get a good O&G lawyer when working on a new lease
Ditto on Rock Man, Once I had an Oil company tell me that the land they found belonged to my Grand Dad, We took the lease but our O&G Attorney added Espress Warranties and many years later when they figured out that it wasn’t our land, they could not come back and get any of the Monies paid because of the clause the Attorney had included. For something that is going to pay out for many years into the future. Your not very smart if you try to do it yourself. Remember the Big Print giveth and the small print take it away. Chris