Several years back we signed an oil lease with OXY (196 acres). I would have to get everything out to review all of the terms, but it was the best lease I have ever had. The most interesting part is OXY paid 5 years up front. I have also had multiple offers to buy the mineral rights also, including mailing me checks with really crappy terms. All of the checks have been thrown in the fireplace so far. Still have not found out what drives these investors to make or attempt to acquire the mineral right. I suspected, it might have even been OXY, but no way to verify that.
For those of you interested in how leases have typically gone for me. Here is a brief history of my experiences. About every ten years they (speculators) develop a new method to search for oil. They then buy up all of the leases (1st year), get permits and drilling rigs lined up (2nd yr), and then and only then drill a dry hole and cancel the lease (3 years). This has happened in the 70's, 80's, and 90's. So here we are in 2010's waiting for the next dry hole to be drilled. But this one is a lot more exciting as we are approaching the end of 4 years. First, it is coupled with OXY's interesting announcement about finding a large oil field in a ag type area. Second, is all the secondary activity. Then finally, is the fun of trying to push the value of other leases up. Fun, Fun, Fun.