What is the average current bonus amount per nma, the average lease terms? 16S 36E 18, Lots 3-4 Is there an ethical independent registered and certified landman working the area? If so, who?
Good question. Im in 17S 37E. Worked with company for over 6 mos to negotiate a 1/4 Royalty with a $1500 lease bonus only to get a letter stating the project was cancelled and the agreed upon terms were rescinded!
Most landmen work an area on behalf of an oil and gas company which sets the royalty, bonus and terms to be offered. The landman can only negotiate within these parameters. This is not unethical. It is difficult for mineral owners with very small acreage to get a company to improve the offer as you can be force pooled in NM. Your real question is whether there are other companies leasing the area as competition can get you better terms.
I have had that happen twice, but not for anywhere near that large of a bonus per nma. These crash and burn events really hurt for years. If I am ever presented with a lease again, the ‘get the bonus and sprint to the bank with the check for deposit’ approach will definitely be more adequately weighted.
Royalty in that township is from 20-25%. Most would want the 25%. Bonus amounts are not public.
Anyone opinions on what would be an average bonus per nma in the township and range?
Matador is standing hard at 20% royalty for my 20 acres in 17s 37E. I think 22.5% is very fair based on recent drilling results. 3 year term, $750 bonus, pugh, no processing cost already agreed. I hate the forced pooling idea. What do I do if I get a letter saying that’s what they want to do? Is it cost effective to call an attorney?
Force pooling in NM is rather onerous. It would be wise to get legal help. There is another thread on the Lea County about pooling and getting a third party leasing option.
Thank You.
What is the best way to locate an attorney for New Mexico?
Someone on the forum may have one or you can go through the NM bar association. Look in the Directories tab above. One of the attorneys may have a license in NM.