My sisters and I hold mineral rights in Hemphill County which have been leased before. It is All of Section 241, Block C, G&M & MB&A Ry Co. Survey.
We are now being approached by a landman proposing a new three year lease, with a bonus of $500.00 per acre, and a royalty of 1/5 of the oil and gas produced. How can I find out if this is a fair deal without the expense of a lawyer. Is there somewhere I can look up the other leases in the area?
Also we have a Division Order with Chesapeake for some land that has been drilled and is producing, but I feel we possibly did not negotiate the right amounts up front, because we are getting very very small royalties from that. I don't want to make that same mistake again.
Any help would be appreciated. Thanks!