We got a letter from Flatland Oil wanting to lease part of our inherited land/mineral rights in Westpoint. We don’t know where to research so we can compare or get a good idea of what is fair and standard in that area. Any tips or suggestions would be appreciated.
Giving a block, abstract name and number, plus section will help focus the research.
Flatland is leasing on behalf of EOG, a major player in the area. Suggest you contact M. Steinhauser, a local attorney in Flatonia. Highly recommended, especially if you get to reviewing an actual lease agreement. I strongly suggest having an experienced oil and gas attorney review any lease before you sign if you decide to lease.
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James P McFarland Survey, abstract 232. We seem to be part of a 254 acre (we have 60) deal. Any info would be really helpful. Thanks!