Does anyone know what the going rate per net acre for leases in Block A-25, Section 3, Gaines County PSL?
I think the going rate is what a landman can get you to accept that is at or below the limit given by his employer. You might benefit by listening to this interview: http://www.capleroyalty.com/capleroyaltyinterview.mp3
Have you received an offer? Do you own enough mineral acres to justify consulting an oil and gas attorney?
This thread might also have some good info for you to consider: http://www.mineralrightsforum.com/forum/topics/open-source-plain-english-mineral-owners-lease Even a high bonus and 25% royalty might not be all that if the lease has provisions which are unfavorable to you. Then again, you don't want to lose an opportunity to strike oil and have passive income for a number of years.
Thanks for your reply, AJ. I do already have a lease offer, and based the knowledge I've acquired through this website (thanks all!) and some personal reading, I realize the lease requires some changes, including a Pugh Clause and a change to the shut-in terms, as well as a statement denying warranty of title.
This is a VERY small interest (1 nma
), so probably not worth paying an attorney even a couple hundred dollars to review. I'm just trying to get a feel for what other people might have been offered. I only recently became aware of these mineral rights and had title changed to reflect the current owner. I'm pretty sure that no one knew how to contact us, as some royalties from another adjacent tract had been held under "unknown owner". Now that everything has been updated, we received a royalty check from one lease and a lease offer from another party on another tract. I will check out the links you so kindly provided. I am learning as I go!
AJ said:
I think the going rate is what a landman can get you to accept that is at or below the limit given by his employer. You might benefit by listening to this interview: http://www.capleroyalty.com/capleroyaltyinterview.mp3
Have you received an offer? Do you own enough mineral acres to justify consulting an oil and gas attorney?
This thread might also have some good info for you to consider: http://www.mineralrightsforum.com/forum/topics/open-source-plain-en... Even a high bonus and 25% royalty might not be all that if the lease has provisions which are unfavorable to you. Then again, you don't want to lose an opportunity to strike oil and have passive income for a number of years.
You are welcome, Susan Helsley. One other thought might be to try to get copies of other leases recorded in the Gaines County Clerk's office, particularly by the company that is trying to lease your minerals, if possible. This could give you a range on the bonus and royalty as well as the clause details. My guess is the landman offered you $250 bonus and 20% royalty.
Susan Helsley said:
Thanks for your reply, AJ. I do already have a lease offer, and based the knowledge I've acquired through this website (thanks all!) and some personal reading, I realize the lease requires some changes, including a Pugh Clause and a change to the shut-in terms, as well as a statement denying warranty of title.
This is a VERY small interest (1 nma
), so probably not worth paying an attorney even a couple hundred dollars to review. I'm just trying to get a feel for what other people might have been offered. I only recently became aware of these mineral rights and had title changed to reflect the current owner. I'm pretty sure that no one knew how to contact us, as some royalties from another adjacent tract had been held under "unknown owner". Now that everything has been updated, we received a royalty check from one lease and a lease offer from another party on another tract. I will check out the links you so kindly provided. I am learning as I go!
AJ said:I think the going rate is what a landman can get you to accept that is at or below the limit given by his employer. You might benefit by listening to this interview: http://www.capleroyalty.com/capleroyaltyinterview.mp3
Have you received an offer? Do you own enough mineral acres to justify consulting an oil and gas attorney?
This thread might also have some good info for you to consider: http://www.mineralrightsforum.com/forum/topics/open-source-plain-en... Even a high bonus and 25% royalty might not be all that if the lease has provisions which are unfavorable to you. Then again, you don't want to lose an opportunity to strike oil and have passive income for a number of years.
Actually, the terms were a bit better than that - $400 bonus and 20% royalty. I know from this forum that 25% is not uncommon to ask for and receive. I am located in the Chicago area, so a trip to the Gaines County Courthouse isn't in the cards. I looked to see whether there is a public records database, but it doesn't look like there is much I can search online. Frankly, the amount of time I spend on this is probably hardly worth the amount that my relative will receive, but I feel like I should do my best to collect for her what I can. It is kind of fun - I just wish the payoff was more lucrative!!
AJ said:
You are welcome, Susan Helsley. One other thought might be to try to get copies of other leases recorded in the Gaines County Clerk's office, particularly by the company that is trying to lease your minerals, if possible. This could give you a range on the bonus and royalty as well as the clause details. My guess is the landman offered you $250 bonus and 20% royalty.
Susan Helsley said:Thanks for your reply, AJ. I do already have a lease offer, and based the knowledge I've acquired through this website (thanks all!) and some personal reading, I realize the lease requires some changes, including a Pugh Clause and a change to the shut-in terms, as well as a statement denying warranty of title.
This is a VERY small interest (1 nma
), so probably not worth paying an attorney even a couple hundred dollars to review. I'm just trying to get a feel for what other people might have been offered. I only recently became aware of these mineral rights and had title changed to reflect the current owner. I'm pretty sure that no one knew how to contact us, as some royalties from another adjacent tract had been held under "unknown owner". Now that everything has been updated, we received a royalty check from one lease and a lease offer from another party on another tract. I will check out the links you so kindly provided. I am learning as I go!
AJ said:I think the going rate is what a landman can get you to accept that is at or below the limit given by his employer. You might benefit by listening to this interview: http://www.capleroyalty.com/capleroyaltyinterview.mp3
Have you received an offer? Do you own enough mineral acres to justify consulting an oil and gas attorney?
This thread might also have some good info for you to consider: http://www.mineralrightsforum.com/forum/topics/open-source-plain-en... Even a high bonus and 25% royalty might not be all that if the lease has provisions which are unfavorable to you. Then again, you don't want to lose an opportunity to strike oil and have passive income for a number of years.
Best to you. Your determination is to be admired and appreciated.
Susan Helsley said:
Actually, the terms were a bit better than that - $400 bonus and 20% royalty. I know from this forum that 25% is not uncommon to ask for and receive. I am located in the Chicago area, so a trip to the Gaines County Courthouse isn't in the cards. I looked to see whether there is a public records database, but it doesn't look like there is much I can search online. Frankly, the amount of time I spend on this is probably hardly worth the amount that my relative will receive, but I feel like I should do my best to collect for her what I can. It is kind of fun - I just wish the payoff was more lucrative!!
AJ said:You are welcome, Susan Helsley. One other thought might be to try to get copies of other leases recorded in the Gaines County Clerk's office, particularly by the company that is trying to lease your minerals, if possible. This could give you a range on the bonus and royalty as well as the clause details. My guess is the landman offered you $250 bonus and 20% royalty.
Susan Helsley said:Thanks for your reply, AJ. I do already have a lease offer, and based the knowledge I've acquired through this website (thanks all!) and some personal reading, I realize the lease requires some changes, including a Pugh Clause and a change to the shut-in terms, as well as a statement denying warranty of title.
This is a VERY small interest (1 nma
), so probably not worth paying an attorney even a couple hundred dollars to review. I'm just trying to get a feel for what other people might have been offered. I only recently became aware of these mineral rights and had title changed to reflect the current owner. I'm pretty sure that no one knew how to contact us, as some royalties from another adjacent tract had been held under "unknown owner". Now that everything has been updated, we received a royalty check from one lease and a lease offer from another party on another tract. I will check out the links you so kindly provided. I am learning as I go!
AJ said:I think the going rate is what a landman can get you to accept that is at or below the limit given by his employer. You might benefit by listening to this interview: http://www.capleroyalty.com/capleroyaltyinterview.mp3
Have you received an offer? Do you own enough mineral acres to justify consulting an oil and gas attorney?
This thread might also have some good info for you to consider: http://www.mineralrightsforum.com/forum/topics/open-source-plain-en... Even a high bonus and 25% royalty might not be all that if the lease has provisions which are unfavorable to you. Then again, you don't want to lose an opportunity to strike oil and have passive income for a number of years.
Thank you. Thanks again for the links.
AJ said:
Best to you. Your determination is to be admired and appreciated.
Susan Helsley said:Actually, the terms were a bit better than that - $400 bonus and 20% royalty. I know from this forum that 25% is not uncommon to ask for and receive. I am located in the Chicago area, so a trip to the Gaines County Courthouse isn't in the cards. I looked to see whether there is a public records database, but it doesn't look like there is much I can search online. Frankly, the amount of time I spend on this is probably hardly worth the amount that my relative will receive, but I feel like I should do my best to collect for her what I can. It is kind of fun - I just wish the payoff was more lucrative!!
AJ said:You are welcome, Susan Helsley. One other thought might be to try to get copies of other leases recorded in the Gaines County Clerk's office, particularly by the company that is trying to lease your minerals, if possible. This could give you a range on the bonus and royalty as well as the clause details. My guess is the landman offered you $250 bonus and 20% royalty.
Susan Helsley said:Thanks for your reply, AJ. I do already have a lease offer, and based the knowledge I've acquired through this website (thanks all!) and some personal reading, I realize the lease requires some changes, including a Pugh Clause and a change to the shut-in terms, as well as a statement denying warranty of title.
This is a VERY small interest (1 nma
), so probably not worth paying an attorney even a couple hundred dollars to review. I'm just trying to get a feel for what other people might have been offered. I only recently became aware of these mineral rights and had title changed to reflect the current owner. I'm pretty sure that no one knew how to contact us, as some royalties from another adjacent tract had been held under "unknown owner". Now that everything has been updated, we received a royalty check from one lease and a lease offer from another party on another tract. I will check out the links you so kindly provided. I am learning as I go!
AJ said:I think the going rate is what a landman can get you to accept that is at or below the limit given by his employer. You might benefit by listening to this interview: http://www.capleroyalty.com/capleroyaltyinterview.mp3
Have you received an offer? Do you own enough mineral acres to justify consulting an oil and gas attorney?
This thread might also have some good info for you to consider: http://www.mineralrightsforum.com/forum/topics/open-source-plain-en... Even a high bonus and 25% royalty might not be all that if the lease has provisions which are unfavorable to you. Then again, you don't want to lose an opportunity to strike oil and have passive income for a number of years.