I have received a lease offer from Gateway. Are they a reputable company? I own mineral rights in Section 2 T09N R 09W.
Welcome to the forum. I have not heard of Gateway, but that doesn’t mean much. Ask them how long they have been in the business and who they are leasing for. They are probably an agent for an operator or potential working interest owner.
There has not been any leasing that I see in that section is a long while. If you have never leased before, it would be wise to get a good oil and gas attorney to look at any draft lease from an agent. Most of them are not in the mineral owner’s favor and need some edits to get into a more fair situation.
Most starting offers are usually low to what they will finally offer. if they only offer 3/16ths, then I ask what they are offering at 1/5th and 1/4. These leasing in the section to the north of you has 1/5th leases, so it is available in the area by other leasing agents.
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