I have mineral interest in Section 35, Block 38, T-2-South, Midland County, Texas and was wondering if anyone had any insight to a going lease rate. I have had offers for years now but a couple of well known operators have thrown a $15000 NMA bonus and 1/4 royalty lease offer out and I am finally interested. Any negotiating tips or anything I should look out for?
An oil and gas lease is a complex legal document that you may have to live with for decades. The fine print in the lease will have a lot more impact on the income you realize from the lease than the amount of the bonus. In addition, even if we could give you legal advice on negotiating the lease, there’s not enough room in a post to the forum. You are best served by retaining an oil and gas attorney to review the lease and negotiate for you. There are oil and gas attorneys listed under the directories at the top of the page, or you can contact the Texas Bar’s Lawyer Referral Service for a referral.
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