Sec 31 Lot 2, T15NR20. I received a voicemail from Rock Creek Land and Energy interested in leasing my interest. Any advice will be greatly appreciated. Any information on any lease offers or recommendations will be appreciated. I know there are depth clauses that are important and also not to allow 2 year extensions. I don’t recall what it is called, but I remember reading on this forum to make sure I don’t get charged for a type of surcharge ?? or be careful they don’t charge me for any kind of transportation etc. Please advise on this if you would. Thank you so much Jay Wick Silverhill, Alabama
Jay,
Don’t want to seem flippant, BUT You’re negotiating with a HUGE information disadvantage. Hire a good lawyer to help you out - They’re usually worth it!
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Lease bonus offers are not public information. The last leases filed in the township were in section 17 in July 2022 for 1/8th. Before that, leases were ranging from 1/8th to 1/4 depending upon the section. 3/16ths was the common. Last time 31 was leased was in 2015, so i would take it slowly on this one. Definitely invest in a good oil and attorney to review any draft lease as they are rarely in the mineral owner’s favor. Leases can hold your family for decades, so care is required to get a good one. “Post production charges” is probably the phrase you are trying to remember. Definitely one of the clauses to watch out for, but there are many others.
Thank you and sorry I am a little slow in responding ): Yes they are offering 20% royalty now and $300/acre I only have 1.5 nma so it’s not that big of a deal or money maker I suppose.
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