My family and I have very small mineral interests in Howard/Borden County - we have a lease that has been in effect since 1944 and has never been updated - the lease has been held by very modest production.
The operator has written and requested that we amend the lease to provide for "pooling" in order for them to drill a horizontal well not covered by the 1944 lease Term.
I wrote back that if they are asking for an expanded contract term - they need to pay consideration for that - meaning some sort of bonus.
The (young) landman said "nobody else every asks this"...which I found surprising...yes potentially all parties to an amended lease COULD benefit if the new drill horizontal well "hits" - but it could also loose if not and we will have expanded lease terms for no gain.
Has anybody ever asked for additional consideration on one of these things?