My family, Uncles, Aunts and Cousins, have recently been contacted regarding leasing the land my Grandfather owns in Cotulla, Texas (La Salle County) which is apparently part of a 9 acre project. We weren't even aware my Grandfather owned this land and now we are being approached with this. We are not familiar with any of the on goings nor how all of this needs to be handled. We would appreicate any information anyone has to give us on this subject.
My advice is get an attorney to negotiate the lease.
I am guessing that your grandfather is deceased and the family members are his heirs. Make sure all the heirs are included. (This is from personal experience). The family should agree on one person who will be the point person with the attorney and the land man and who will keep them up to date on how things are going. Be prepared for a long wait after the lease is signed before drilling actually begins. The land man may tell you to sign immediately because they are ready to drill. It seems to be part of the sales pitch in my opinion. Get an attorney you can trust and work through that person.
This is based on my own experience, as an heir (one of 13 heirs) on two different leases.
Thank you Robin for your input. We are completely taken aback as we were unaware my Grandfather even had property and now we are having to sort through this subject. My Aunt has taken the "lead" on this and yes, I believe we are all in this together meaning no one should have a seperate lease. I wasn't even aware that was possible regarding seperate leases. I am just assisting my Aunt is trying to get some answers as this is somewhat confusing and we want to make certain our best interests are met.
Maria Elena, Two years ago out of the blue I was contacted by a landman pressuring me to sign a mineral lease on land in La Salle county. Having no knowledge of the inheritance or oil & gas leases, I told him I needed to do research first. I read everything on this forum & many others gathering information. In the process on line met some very fine ladies in my same "boots." Attorneys fees can be exorbitant but may be warranted if your family is not willing to do the research. Don't let the land man hurry you-just ask him questions & tell him you are doing research. You can send me a private message for questions, if you friend me. Mary Ellen(yes, we have the same names)
I totally agree with Mary Ellen. We have learned so much over the years and one is that you can negotiate a great lease if you have a good attorney. Things like royalty percentages and expenses paid or not paid at the well head by the mineral owner may seem like a bunch of legal talk tucked away in the lease language, but it will make a huge difference when you start receiving checks. There are many other things to look over carefully. Good luck.
There are also issues, especially if you own the land, about clean-up, access, waste disposal, etc. The lease where we own the land and the mineral rights also has a provision about no hunting being allowed on the property. All this is spelled out in the lease along with deadlines for cleanup and such. This is why a good attorney is worth the money.
Laura said:
I totally agree with Mary Ellen. We have learned so much over the years and one is that you can negotiate a great lease if you have a good attorney. Things like royalty percentages and expenses paid or not paid at the well head by the mineral owner may seem like a bunch of legal talk tucked away in the lease language, but it will make a huge difference when you start receiving checks. There are many other things to look over carefully. Good luck.
Here is an article that may help get you started http://www.mineralrightsforum.com/profiles/blogs/i-may-own-minerals-so-now-what