Grady County Lease Help

Richard McGuire · 2019-03-13T16:49:59Z

Hello, my brothers and I just found out that we own 7.5 acres of mineral rights in Grady County. Section 22, Township 03 North Range 07 West E/2 E/2 W/2 and W/2 E/2. We found this out when we were recently contacted by a landman representing Sundown Energy. They are offering us $400 per acre and 3/16 royalty. A 3 year lease term. I responded that I thought the offer was low. When I did, the landman pointed out that his company did a lot of work (Affidavit of Proof of Death and Heirship (3)) that would have cost a lot of money to hire a lawyer to do. He asked me to consider this when thinking about the offer. That does make sense to me. Anyway, if anyone knows of any lease offers in that area, please let me know any info that you may have. I'm trying to determine if this is a fair deal. I already read on here that I should NOT agree to "warranty" title - which was standard language in the lease they sent me. I told them I would not agree to that as I have no way of knowing about the title (we are heirs). He said he would see if they could strike that language from the lease. Any comments/advice would be appreciated as I live in Florida and have no knowledge about this sort of thing, except for what I have learned from this forum. Thank you!!

Oil and Gas Leasing Help

Richard_Winblad May 13, 2019, 8:43pm 8

Nonsense, most of us work on flat rates for summary or ancillary probates.

What he didn’t tell you… Is that an affidavit of heirship probably won’t help you get the royalties paid. That will typically require a probate.