I received an offer by Rough Patch Resources LLC in Tyler Texas to obtain a lease in Marion County, TX. Does anyone know anything about this company? I am not able to find any information on the internet.
Thank you!
Rough Patch Resources is an entity set up by Jeremy Wheat of Wheat Land & Energy. They did some leasing in Freestone County for Petro-Hunt in 2023.
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Thank you for taking the time to respond to my question. How can I find out more information about them like references? I am just hesitant to sign a lease without knowing more about them. I tried to read the full lease, but it was like reading in a foreign language to me. Should I get a lawyer to look at the lease before I sign it in Marion County? If so, how do I find a good one? It is not the money because I only have a small part and they would be paying a small amount. However, I want to make sure I am not signing something that could cause me trouble later. Thank you!
Here is the Wheat Land & Energy website:
In general, LLC entities like Rough Patch are set up usually by a land management firm and sometimes by the operator with the purpose of concealing the identity of the final owner of the lease. The ultimate purpose is that the final operator can keep their intentions close to vest, and also hopefully competition will not get involved.