The lease on my mineral rights ended this past January. What do I do now? Do I hire a landman? Do rights owner get proactive on trying to get leases?
What’s the legal description of the property? Section, Block, Township, etc.
Most of the time, you just hold off and wait for an oil company to contact you, however Yoakum is a pretty hot county, so you may have luck reaching out to some operators around your lease.
And then get them in a bidding contest for the best offer!
Did you figure out how to proceed with getting a new lease offer?
I always wait to receive an offer. If you solicit your own then you will likely get a lower bonus price.
Not yet. I live in Oregon and am in the process of moving to Colorado so have put this on the back burner. Also was recently notified of another inheritance of mineral rights in another county, but have not been informed of the location. Supposedly have a lease offer in the works on that …waiting.
If you’re moving, you may want to record a notice of change of address in the land records of Yoakum County, so a prospective landman/company can find you.
Thank! I would not have known where/how to do that.