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.
We negotiated a very good lease in Hemphill county last June. If you still need some direction let me know. There are many things you want in your lease that will make big differences later.
We negotiated a very good lease in Hemphill county last June. If you still need some direction let me know. There are many things you want in your lease that will make big differences later.
My siblings and I have mineral interests in Hemphill County which have been leased in the past at $125/ac, 1/5 royalty, 3-yr. term. We have been approached again about leasing these minerals with the same bonus, royalty and term. As the price of oil is dramatically higher now and, as we have received offers for minerals we own in other parts of Texas at much higher bonus/royalty terms, I am curious if we can do better on this lease. If you don't mind, would you share any of the following information with me:
1. Where are your minerals located?
2. How much of an interest do you own?
3. What are the producing zones in the area?
4. What bonus/royalty/terms did you get?
You also mentioned, "There are many things you want in your lease that will make big differences later." Can you share this info with me as well?
If you don't want to share this information publicly, you can email me here: berrytc@gmail.com
Thanks so much for any assistance or information you are willing to share.
I just joined this excellent blog. I have also been approached regarding some mineral rights in Section 49 of Hemphill County. This is for a lease of a property that had been worked before by BP. They are offering $450/acre and 3/16ths royalty. I'm not as concerned about the bonus as I am about the royalty. The agent said that 3/16ths is the going rate in the area now but I'm inclined not to believe him. Can anyone give me any guidance.
Many thanks,
-Tom
toml709@gmail.com
berrytc said:
Dave Hefley said:
We negotiated a very good lease in Hemphill county last June. If you still need some direction let me know. There are many things you want in your lease that will make big differences later.
My siblings and I have mineral interests in Hemphill County which have been leased in the past at $125/ac, 1/5 royalty, 3-yr. term. We have been approached again about leasing these minerals with the same bonus, royalty and term. As the price of oil is dramatically higher now and, as we have received offers for minerals we own in other parts of Texas at much higher bonus/royalty terms, I am curious if we can do better on this lease. If you don't mind, would you share any of the following information with me:
1. Where are your minerals located?
2. How much of an interest do you own?
3. What are the producing zones in the area?
4. What bonus/royalty/terms did you get?
You also mentioned, "There are many things you want in your lease that will make big differences later." Can you share this info with me as well?
If you don't want to share this information publicly, you can email me here: berrytc@gmail.com
Thanks so much for any assistance or information you are willing to share.