Hello! Received a lease from Jetta mysterious in mail! Seems mineral rights were passed down from my great grandmother. The landsman told me it was under lake texoma - my mother and I have a very small bit- landsman told me they usually pay $150/acre but this one pays $1400/acre. Confusing. Here is some info from papers: they want to give me $25 (not much!). I own .017778 net mineral acres under .16 acres of land, Orlando Willis survey, abstract A-1305, lot 10, block 5, otp of town of hagerman. Can anyone possibly explain this to me? I am clueless! Thanks so much! Shanna Scott
Here is an article that may be of help. If your interest is this small, best to read up and try to negotiate yourself. Make sure it is a lease, not an attempt to buy your minerals. http://www.mineralrightsforum.com/profiles/blogs/i-may-own-minerals-so-now-what
My siblings and I also received a lease offer from Jetta, initially for $150 per NMA bonus and 3/16 Royalty. We eventually negotiated it to $300 per NMA bonus and 3/16 royalty for a 3 year lease. Jetta later came back having found an additional small parcel which we also had rights to and paid us $25.00 for that as it was so small it would have amounted to less than $10.00 total so they just pay a minimum amount of $25.00.
Our rights are also near Hagerman and are under the Big Mineral Arm of Lake Texoma. Hope that helps.
Is this a very small bit that I have, .017778 under .16 of an acre?
shanna the area you in I would ask for a .25 royalty. Jetta is drilling horz . wells in the area and since you don't have that much I would ask for the .25 and no bonus money it will pay off in the long run. but every one has to do what they think is best for them.
So you are saying tell them to keep their $25 and give us 1/4 I stead of 1/6? This thing is titled “paid up oil gas & mineral lease”., not sure what that means but probably standard lease. And when you say it will pay off in long run, can I expect to actually get money from this tiny amount??
Shanna - I'd be interested to know if Jetta accepts a counter offer for no bonus and a 1/4 royalty. My experience while negotiating with them on behalf of myself and my siblings was that they would not budge on the 3/16 royalty. When I countered asking for a 1/5 royalty they immediately doubled the bonus from $150 to $300 per NMA but stayed firm on the royalty percentage. In our case we had a bit over 15 acres ( split 6 ways ) on the main parcel and a very small ( less than 1/10 acre ) in the submerged town of Hagerman which they added to the lease for the additional $25 per acre each.
I also meant to add that since we signed the lease in March Jetta has not filed for a permit to drill on our lease as near as I can determine from the RR commission permits that Clint Liles posts to this forum.
Very helpful by the way Clint - thank you.
Does anyone know what current market bonus and royalty rates are for a lease near I-75 and CR 902? We have a majority interest in a 200+ acre tract in that area and we were recently approached with what seems like a low-ball offer. Any information would be very much appreciated. Looks like Jetta has drilled some nice wells recently! Thanks, Phil
My sister, a cousin, and I have also executed oil and gas leases last year in favor of Jetta for Lots 3,4 and 5 of Lot 6 in the town of Hagerman; we are complete novices in these matters, but I understood that there were hundreds of leases which Jetta wanted to acquire in or near Hagerman. Does anyone know if Jetta has commenced drilling there?
Not that it really matters, but my post of Jan. 26 should read "of Block 6", not Lot 6.
There hasn't been as much activity on the forum as there is drilling for oil.
We are seeking current information about lease offers as well.
Currently being offered $150/acre bonus and "15%" royalty on just over 12 net mineral acres in the Richard Bishop (A-83), Jones Bishop (A-89) and William Hull (A-566) surveys which are west of Preston Bend (289), between Cemetery Rd. and Georgetown Rd. in the area of Squirrel Ln. Also in Matthew Harris (A-525) which is in the area of Millcreek Rd. Is anyone familiar with drilling activity and/or existing production in the area. Bonus and royalty seem a little light.
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