Oil & gas discussion group for those interested in Evangeline Parish, LA. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
Hey guys any good news regarding Austin chalk or TMS ?
We have had a couple of companies contact us wanting to lease our land back home in Evangeline Parish.
One wants a lease for 1year for a 3D seismic survey with a 3yr mineral after that, and the second company just wants a straight 5yr mineral lease.
When I asked for more info, one sent me a full contract already filled out with our info, and the other sent a sample contract.
The compensation rates vary quite a bit between the two, but I really don't understand a good bit of the language in them.
We are not sure where to even begin researching these things to make sure we get fair compensation. Any suggestions on what going rates are for these types of leases, and or advice on how to choose the right company to deal with would be greatly appreciated.