Is there a standard lease document used in this area and if so, would someone mind sharing a copy (redacted with confidential information is fine).
Depends on the operator but there are some standard paid up lease forms that we frequently see in ND. You have an email address i could send a couple of samples to?
There really is no such thing as a “standard lease document”. Each leasing company may have their own standard that they prefer. I have seen many, many different ones. Mineral owners will not usually find that those are in their favor, just in the company favor. If you see one that has “Producers 88” at the top, that is a remnant from a long time ago from a printing company that had that number on their docket that day for a particular company. Many companies put that title at the top but it means nothing. You would be wise to peruse any “standard”, but really get to understand what each of the clauses mean and whether they will hurt you or help you. Ask lots of questions and understand anything that you may be signing. You can add an Exhibit A which will override any lease terms. Those take some negotiations.
Thanks DRontal, that would be super helpful! Please email to: [email protected]