Apparently, I have some mineral rights in Carter County. I received a lease option from Bearcat Land wanting to drill on Azalee 1-11H Well, Section 11-3S-3W. Does anyone have any details or can explain to me this process. I've inherited these rights and now live on St. Simons Island, Georgia. Thank you.
Julie (Engleman) Grimm
Are you taking about Carter county in Montana?
Julie,
I think you mean that Bearcat has offered to lease and has given you options as to lease terms. Its a very complicated process in Oklahoma as you will learn as a MRF member. If you have more than 10 acres in the section, it may be worth some investigation. The offer you received will give you enough info to determine how many mineral acres you inherited. If it contains a bank draft, do some research before using it. If possible, don't agree to anything but a check and above all don't send back a signed lease form.
Sorry, no Oklahoma.
marlene ferrel said:
Are you taking about Carter county in Montana?
Yes, thank you Gary. It's all a little fuzzy to me and still cannot verify the acreage. I think they've contacted me since they cannot reach any other family member. Leary, to say the least. I appreciate your help.
Julie
Gary L. Hutchinson said:
Julie,
I think you mean that Bearcat has offered to lease and has given you options as to lease terms. Its a very complicated process in Oklahoma as you will learn as a MRF member. If you have more than 10 acres in the section, it may be worth some investigation. The offer you received will give you enough info to determine how many mineral acres you inherited. If it contains a bank draft, do some research before using it. If possible, don't agree to anything but a check and above all don't send back a signed lease form.
Gary L Hutchinson
Minerals Management
Friend me and I'll try to give you some help on your specific situation. Gary Hutchinson
Julie Grimm said:
Yes, thank you Gary. It's all a little fuzzy to me and still cannot verify the acreage. I think they've contacted me since they cannot reach any other family member. Leary, to say the least. I appreciate your help.
Julie
Gary L. Hutchinson said:Julie,
I think you mean that Bearcat has offered to lease and has given you options as to lease terms. Its a very complicated process in Oklahoma as you will learn as a MRF member. If you have more than 10 acres in the section, it may be worth some investigation. The offer you received will give you enough info to determine how many mineral acres you inherited. If it contains a bank draft, do some research before using it. If possible, don't agree to anything but a check and above all don't send back a signed lease form.
Bearcat Land is an honest reputable company and I wouldn't worry about how they pay you even though most in this forum believe everyone is dishonest. Also, leasing is very simple, you only need to negotiate favorable terms so take time to understand a lease before signing. I'd look at the pooling orders in the area to get an idea of what bonus and royalty has been being pooled at. If you call the landman at Bearcat they will tell you the net acres if it isn't already in your lease cover letter they should have sent. I'd also determine your net before you come to a decision on what terms your willing and able to get leased for, the more acres normally it's easier to negotiate better terms.