Hello,
My family has been contacted by a landman out of OK. We have 10 acres in Beckham County, OK. The landman reached out stating that this area is “hot” and mineral owners are very excited. They want to lease our land. They offered $500 with 1/5 royalty. I requested a counter at $1000 with 1/5 royalty. Here’s my issue…my family and I know nothing about leasing minerals. From the very limited research I have done, I know that we should not rush into signing anything, we need to be careful of post production charges, possibly wait for “pooling”, which I would need help understanding, possibly retain an attorney and ask for the oil company’s name, which was not given to me.
Any help or insight would be greatly appreciated.
DH225