Hello, I recently received an offer to lease my mineral rights in Eddy County. The area is within TWP 23S RNG 25E. I have no idea if it is a fair offer or how to negotiate better terms. Looking for best advice to move forward.
1 Like
Quite a few companies are leasing in the township. In general, the first offers are low, just to see who will bite. If you want to add your section, can give you a few names of who else is leasing close to you.
The draft lease will not likely be in your favor, so getting a good oil and gas attorney is a wise investment in getting better terms and better language to protect you and your family for a long time.
Thank you Martha for your assistance. The sections are 4 and 20. Obviously just trying to make certain that the offer is fair. Will definitely do some research on an attorney.
BlackTree is in 4, but Ridge Runner is over in 2, so a possibility.
BlackTree is in 20, but Briggshanna and TIlden Capital are in 23.
3R Operating has a rig going in 36.
You can usually get a better offer if you do a multi section deal, but make sure they are separate leases.