I am new to the world of oil/gas drilling and land leasing. I am admittedly naive to everything in this realm.
My family has approximately 134 acres of property mineral rights located on the Utica shale. We have received no solicitation to drill recently, but with the change in government administration, I want to be prepared beforehand for any opportunities.
Could anyone provide me some advice on what the first steps to take are if we want to try and use our mineral rights to produce some wealth for our family?
Keep up on the mergers and acquisitions of oil & gas companies in the area. Read their investor presentations if available.
A good book to read is “Look before you Lease” by Jim Stafford. It is a bit old, but a nice primer. Also read the Mineral Help tab above. Always good to have an attorney review any potential lease as they are rarely in the favor of the mineral owner and need substantive edits.
Make sure your family has all of their names and addresses and any title information such as deeds and probate properly filed in the courthouse where the minerals are located. If the landmen cannot find you, they cannot lease you. If they are interested, they will come looking.