I saved and printed it. Number 7 they won’t like. Number 12 they won’t answer. Add something about frac pay and watch them spin. Oh lawdy lawd.
I ran this past my group of idiot savant experts.
Give them a vertical wellbore to the center of the earth. It’s the horizontal part that’s going to cost them.
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I can almost hear the screaming in the oil company office now…….
Suggest you add a commencement of drilling clause. Drilling rig onsite capable of drilling to depth and drilling to the right. Warrant title (don’t want to do) Option clause -how long and how much (I won’t do) Force Majeure clause (I do not like). Top lease clause (I do not like).
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Might as well. They can’t or won’t complete the form anyway.
Of three I requested so far, I have received two back. One is still out.
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Thank you so very much!
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ChatGPT even created this spreadsheet to record collected responses. A little overkill for us. But impressive for about an hour’s conversation, in total.
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Very nice. Complete. Got to be careful out there.
Not to be rude, it doesn’t eliminate “the passive beneficiary who’s going to leap at the first deal that comes along.” It simply indicates that you are new to leasing, don’t know what you are doing and if you own a small interest the potential lessors will simply move on to another owner and leave you hanging.
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It looks like you enjoy using AI tools. I use them extensively in our business. They can be great for bringing together a tremendous amount of information very quickly for further analysis and education. If you fail to ground the AI, then you can get information that looks good, but is flawed. Good luck to you.
I’ve been on here for a while, the status quo has always been to hire an attorney to review any document filed. Now the board is switching to let AI do it? Or is it, let AI draft the document and then hire an attorney to review it? I’m way too old (about to be 79 years old) for this sudden change to keep up with all you young whippersnappers!
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I doubt that you are way too old Bob. I use AI a great deal in our property management and office operations. At first, you are surprised at what you can accomplish in so little time. Then as you push it further, you learn to ground the AI to get better responses. It cannot replace an attorney for what an attorney does well, but it can help a person understand the processes so they can perform some of the lesser tasks.
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