Is there any activity around Sec 30, Township 2 North, Range 3 East. Thx Ralph
Thanks, Carolyn. We do have an attorney looking over the 'standard' lease. I know there are some things we really have to watch. You are correct in that the lease itself is full of jargon that the regular person simply cannot figure out. Thanks for your reply.
I was advised that you who have not signed Mineral Leases should ask for the Pugh Clause to be inserted and the first line in Section 10 of the lease should be removed. Don't be a pushover for these experts who have plenty jargon to try pressuring you. There are landmen all over the area in Amite County and many of the landowners were too excited and signed too soon. Educate yourself and don't get taken!
Thank you, Mr. Epps for looking out for us!!! I really appreciate any help I can get.
Thanks, Mr. Epps. I had already asked that the warranty clause in No. 10 be excluded. Can you explain what the Pugh Clause is? My sister and I meet this weekend to make our decision and get our act together. Any other information you might give us would be greatly appreciated.
Thanks, Mr. Epps. Did not know this either? We have all got to look out for each other with info, like Mr. Epps.
What do any of you think of countering an offer with a higher request. Though I am not at liberty to say how much we have been offered I feel like our rights may be worth more. We own 100% of the minerals and the surface rights as well on 162 acres. My daddy always did the bargaining (if any was done) and this is our first experience with a mineral lease landman. Since someone wants our mineral rights (and I mean all of us not just my sister and me) we are in the driver's seat. They are going to turn around and sell what they get from us at a low price for a much higher price if there is such excitement about our area don't you think? Oh, and I did find out what the Pugh clause is. Thanks for the heads up Mr. Epps
Sue, where are you’re acres located? I have been trying to get an answer to my question..."Is there any activity around Sec 30, Township 2 North, Range 3 East? But I guess know one knows on this forum. I did email the Amite County Chancellery, buy no replies. Again, I do not own the surface, just the mineral rights. Thx Ralph
Ralph, I own parts of Sections 19, 24, and 13
Google the Pugh clause and you can get an explanation of it. Sue, I answered you.
Sue, Sue, Sue! With all due respect, how could anyone know if you could go higher, or lower, if we have no idea where you are currently at?"
OK, I've been thinking.....is anyone interested in forming a group? My brother-in-law is in a group in Ohio and the offers I've seen on here are chicken feed compared to his. Message me if you're interested.....we'll go from there. I think to private message me you click on my name.
A group is nice, such as this forum. I live in PA. But a few things I am still not clear on- (1) when a surface owner is approached by whomever, and he/she does not own the mineral rights- what happens next? (2) Why does everyone seem to be in awe/fear of the landmen- why can't the group "to be" deal directly with the actual drilling company? (3) The Pugh clause- what is the disadvantage to mineral rights owner, in plain words? (4) Does the Chancerly Court of Amite provide any value to mineral rights owner in the way of info, etc.? Thx Ralph
Ralph....WE need to get a group together and hire a lawyer...this is far too complicated for us. My brother-in-law is in the Utica Shale play in Ohio. He has gotten $3500.00/acre and royalties. His friend in an adjoining county has gotten $5000.00/acre. The royalties are astronomical. The companies are going to make BILLIONS of dollars off of these plays. Google Tuscaloosa Trends...you will see a map of the "hottest" area. I'll try to tell you how to find out exactly where you are in the county if you want me to. We need to get a group together!!! My brother-in-law says the people in his group do not have adjoining acres so we wouldn't need to do this either. WE DO NOT KNOW WHAT WE ARE DOING!!!! Google Pugh Clause, you'll find out about it.
The Chancery Clerk in Amite County is probably about to jump off the Mississippi bridge....I hear you can't even get IN the courthouse with out standing in line for hours there are so many landmen down there.
Carolyn, thx for your reply. Again, I am not surface owner, so not sure what is going with the landowner- whoever that is at this point. What lawyer can you trust with so many creating thier own LLCs- what a scam. I do know one person, my mother worked with a while back, but seems like everyone has hand in the till or left foot in the door. What are the landmen doing, looking for potential suckers or filing there new lease agreements with those already scratching thier heads? Ok on the Pugh clause. Ralph
Are you interested in joining a group? Or rather putting one together???
I am not sure who is who in this forum, so creating a group w/o knowing particulars can be quite circumstantial, at best. I need to find out who owns the land above me, I would think first? They may have already done the surface deal, if so, I have not seen or heard anything, if this would be the case, this is my dilemma. If a group needs to be formed to work as a whole to get the best deal, whatever that is, I am willing- but my distance to MS would not lend itself to starting a group.
Why are people so willing to give up the store with so many people blogging to do the opposite? Not sure what the regulations are in MS, but what if your neighbor allows drilling, you don’t (playing hard ball), and the Oil/Gas come spewing out- what claim would you have at this point? Or is this the tactic the land men use to frighten the land owner? Are there not rules and laws on distance and aligning acreage when it comes to royalties? Others in this forum please chime in. Thx Ralph
Ralph, I sent you a friend request so we can message each other.
You have to accept my request.