1. Have been approached with standard initial terms to lease 5years, 1/6 participation. Landman proposes $30 per acre per year for 5 year lease, options to renew 5 years, 20 years, etc. Anyone know of other proposals and dollar terms in area of southern Fresno County?
There may be a California State website disclosing financial terms by lease, but I have not had luck yet. ( http://MAPS.CONSERVATION.CA.GOV is a great research starter.)
2. Project involves fracing, and I want NO liability issues coming back on me, like BP and its contractors. Contract language probably requires modifying to secure complete indemnification by both lessee and assigns. Anyone with some experience in this, whether within California or not, I'd like to hear from.
3. Any other comments on this subject are very welcome!
RA