Does anyone know the amount of acres one must have to lease to an oil company for oil exploration? In general I've read articles of people who own hundreds if not thousands of acres. I also was told by an oil company personnel in Oklahoma that, let's say a large oil vain was found underneath your property, everyone within 140 acres adjacent to your land would be entitled to royalties/ compensation he went on to say that he did not know what the Alabama law is about this matter.
You can have any amount of acres. The acreage they lease depends on the spacing of the unit. If someone is trying tO lease your acres u can ask them about spacing. How many acres u have can determine how much strength u have in negotiations - the more u have the better. If they are leasing in ur area get out and talk to neighbors. The more info and sharing everyone does the better off you will be. Good luck