I have received an offer for 100 and 3/16 or 150 and 1/8 pnma on lots 6-7 e/2 sw/4 and se/4 any info would be great
Welcome to the forum. You need to add the section, township and range to get useful information. The there are many sections and Lots 6 & 7 doesn’t tell us much. Many of us would take the higher royalty as it pays out better in the long run if the wells are successful.
My apologies I’m new too this township 13 north, range 19 west, section 6
Section 6 has no recent leases posted, but Chaco Energy just pooled section 28 for $150 3/16th and $100 1/8th. You offer is reasonable for the area.
If you are new to ownership, help is available in the Mineral Help tab above. Ask plenty of questions. Generally better to post in the state and county topic area in order to get folks that watch those counties attention.
The bonus is not the focus. The clauses in the lease are more important. The draft lease from an agent is not usually in the mineral owner’s favor. It is advisable to get legal help in getting a better and more protective lease. Or you can wait for force pooling which many folks prefer.
so what in the lease am i looking to add or leave out
Not giving legal advice. You do not want to pay any post production charges of any kind. You want to have a commencement of drilling clause, do not warrant title, limit shut in time, have a depth clause, do not have an option to extend the lease and other items. Best to get an attorney to look it over,.
ok I have done some leg work got the deed in my name now it is only 95 net acres is it worth it to retain a lawyer at the expense being such a small tract
If you truly have 95 net acres, that is not a small tract for OK. It is wise to get help for even much smaller acreage. Leases are complicated legal documents that can hold your family for decades and it is imperative to get a good one the first time around. The draft you are getting from a landman is hardly ever in your favor.
do you have any recommendations for a lawyer in that area the landman has made a offer with a timeline but I’m not oppose to forced pooling or getting a lawyer involved to make sure the deal is good. This All came from my father who passed last Christmas he knew all the ins and outs I tried to learn what I could from him. But I feel he would tell me to get an attorney, He had one but has quit practicing and i have not been able to find a way to get ahold of him.
The Directories tab above has several attorneys listed. You will need an OK attorney. You can also go to the OK Bar Association and look up oil & gas attorneys. You may have to try several as many will have conflicts of interest with certain companies.
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