Hello All, I am still learning about my mineral rights and have not had much free time. I was recently contacted by EOG to lease in Lincoln County NW/4 Section 25-17N-3E $300 20% Royalty 3+3 Year Is this a fair offer? Any assistance is greatly appreciated.
I cannot comment on the amount of money, but I would not take the extra +3 option. I never lease for more than three years. Too much can happen. And the +3 indicates to me that there is not a rush to drill. There is some horizontal drilling in the area surrounding you.
In my experience, the first draft of the lease will not be in the mineral owner’s favor. I would suggest you get an oil and gas attorney to review if for you and get a more favorable lease.
This topic was automatically closed after 90 days. New replies are no longer allowed.