Approached to lease my mineral rights in Pondera County

I received a phone call from a company in North Dakota that is interested in leasing the mineral rights that I own in Pondera County, Montana. Before I jump into signing anything, I would like to get as much information as I can, concerning the leasing of mineral rights. Has anyone out there been approached about leasing their mineral rights? And if so, what is the going rate for leasing, and percentage in royalties? Is there anything in particular that I need to be absolutely sure of before I sign any papers? In other words...what questions should I be asking?

I have been searching the internet to learn everything I can about the leasing process, and I see that I will eventually need to get a lawyer involved. I live in Florida, therefore, I do not have easy access to a Pondera County lawyer.

I would like to know how other people have handled this situation and who they involved in the process.

I appreciate any and all input. Thank you.

Good day, Regan!

I am not an expert at all, but I have gotten a ton of great information on this forum. I am in a similar situation--I inherited mineral rights to some property in Pondera County, MT ten years ago, and my mom and grandmother had owned the rights since the beginning of the 20th century. I was approached by a Texas based company a couple of weeks ago, and, at first, I assumed it was a scam. It is not, but I am treading carefully. I turned all the contracts over to the family lawyer, and she has penned a reply to the agent, requesting that several elements be removed from the contract. Our lawyer is a property expert, but not a mineral rights specialist, but she was able to do an excellent job with the contract. She said that these agreements are mostly boilerplate, and that any lawyer can spot what the questionable elements are.

I repeat, I am as much of a novice at this as you are, but in my very limited experience, I would highly recommend having a councilperson look the contracts over before signing them.

Thank you for your input, Greg! Your words, "any lawyer can spot what the questionable elements are", really stood out to me and confirmed what I was thinking. I am asking a variety of people (land-owners, mineral rights owners, and lawyers) for information concerning this matter and what may or may not need changing in the lease that was offered to me.

It's good to know there are people out there willing to take the time to offer words of experience and wisdom.

Thanks again.

Anything ever come out of this? I know its been 6 years! I was recently put on a deed for 320 acres in Pondera County, that was also leased in the 70’s. Looking to see if its worth it to contact some exploration companies, or if we just file the deed away.

thank you! josh