My husband has 1/5 ownership in 131 acres of land in San Augustine County, Tx. He has only ever received small checks like $10 etc. it was so frustrating he decided not to renew any contracts or respond until we could get someone to help us. Or give us some tips so we are not ripped off and can make a decent amount on the lease. Docs from company says re: is paid up oil and gas lease. Terms 3yr primary term,two yr ext,1/5 royalty and 300.00 per net mineral acre. Gross acres-131.775acres, Net Acres-0.04382632 acre.One(1) order for payment in amount of $50.00 minimum payments ( subject to approval of title . I know from reading some of your responsesto others tht this is less than normal even though it’s split 1/5th. I saw you suggest better compensation for others like us. None of us are receiving decent payouts. My husband hasn’t excepted anything in 10 years
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Can you give the survey name -abstract number and name of well paying royalties? This will help forum members in a response to your questions. Thanks!
If he owns .04382632 net mineral acres, he will have very little leverage to negotiate a better deal.
If I was in your shoes, I would ask for a 3 year lease (no extension), 1/4th royalty and $100 minimum payment. It’s such a small interest they may just pay it and move on. I wouldn’t hire an attorney for a deal this small, fees will be more than the lease will make.
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