I made changes to the agreement the Land agent sent over. She came back with an Exhibit that apparently takes precedence over the terms of the agreement, but it did not address all my changes. I sent back some additional comments and requests for changes, and she forwarded to the oil company, Continental. It’s been several weeks, about a month, now and I haven’t heard back. Is this typical. The land agent did inform me they were busy with on another site that apparently was being drilled or just came online in the county.
When can I expect to hear back and is it typical that the oil company will rely on Exhibits to make the changes to the terms.
With that company, it is typical on the delay and they want the Exhibit A to be on their terms. Sometimes, it is fine to wait for the Pooling rather than a bad lease.
It depends upon the wording of the pooling documents. Sometimes, they are gross royalties with no post production charges and sometimes they do have post production charges. Cannot say at this moment. The pooling is a short term instrument usually 180 or 365 days. It is limited to the zones listed in the order and they have to drill within that time frame or pool again. There are some advantages to that.
Was her name Kathy? Sounds like the one I delt with and she talks real sweet but constantly acted like I was a problem for her and even sent me an offer with the wrong county! She’s been in this business for more than 15 years! But, this was always just all she was authorized to do! The less work she puts in for her commission the more it is worth to her! Well, take it back to the Company she is working for. A company contracted to do leasing for Continental. Maybe someone else will work with you better. Normally, I try to see both sides. Be considerate, understanding and never assume but that lady put me off and I went around her and got the lease I wanted.