Hello everyone,
I was sent a letter to my house address. It read that I could lease or sell 7 acres located in Emerson, AR. They wanted to drill for lithium.
The letterhead was from Exxon/Mobil.
Are you currently drilling in this particular area?
Is there a resource for lithium drilling permits?
I have been grandfathered in so I keep getting calls to buy my minerals in Arkansas! Not going to do it because it’s paying every month, not a lot but it helps! My 2 cents worth is don’t sell and there is more going on but the company is not telling us, good luck! P.S. yes this area is very active.
The state dictates the terms.
https://www.youtube.com/watch?v=j3R7kXgwaHA
A new plant is in the works. Exxon owns much of the mineral rights in the area. The lithium is extracted from heavy brines that are part of the post-drilling boom of the 1920s. Eventually these leases will fall within a narrow range as the state dictates the lease terms which is an annual payment according to your share of the drilling unit. It is not like a standard oil lease. However, you’d be wise if leasing to explicitly state that any oil or gas as well as brine used for bromine would be paid a standard royalty. Minor amounts of oil are usually a byproduct of these brine extracting processes.
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