My family and some of our neighbors have been receiving lease offers from Vanna II and Drake Exploration in Anderson County, and based off my research on here, these Entities are leasing for Expand Energy. PLEASE BE CAREFUL of the Right of First Refusal Clause in these leases regarding mineral sales, the one’s I’ve seen read as follows: “The Lease further grants to Lessee a preferential right of first refusal for any offers to top lease or purchase underlying oil, gas, and mineral interests.”
I’ll never sell my minerals, but I feel sorry for the people that might like to one day as this ROFR kills ALL pricing competition. Expand knows EXACTLY what they’re doing with this ROFR because most early mineral offers/top lease offers are low. If a mineral owner under these leases ever decides to sell or top lease, Expand will have the option to take it without letting you negotiate the price or terms!!