Hi all, my wife and her family have mineral rights in Billings County, section 6 and I think 26 too. They just received an offer from Great Northern Energy for 300 per NA with 19% royalty for 5 year lease. Normally they just accept whatever offer comes to them without any knowledge of the market or help from an attorney. I want to evaluate this more and help them and us get the best deal. The rep pressured them a bit saying there are many unleased mineral rights in that area so they ended up signing a draft letter and the real lease is being mailed now for them to sign and notarize. I saw a link here for Argent Financial Group so I think I may engage them for review and try to get them to wait to actually sign. Does anyone have feedback on this? From other threads, it seems like we have some room to negotiate (or we did before we signed that draft letter).
Get legal or professional help immediately. I am not sure if the draft letter has any legal bearing in your state. The draft lease from an agent is rarely in the mineral owner’s favor and needs some fairly significant edits to move it more toward the “fair” zone.
Hi Martha, are you available for contract review or other related services? I can see you have a wealth of expertise. Thanks
At this point. I am fully booked, but can help people get started in the right direction. Argent is a good group. That leasing agent is liable to be “persuasive” to get that lease signed since a draft was signed. Get someone to be the relatives’ advocate.
Okay great, thank you so much.
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