Is it worth having a lawyer review an oil and gas lease offer for $1,000 per net mineral acre at 3/16 royalty on 1.5 acres in Roger Mills Section 5, Township 12, Range 24 West?
A knowledgeable lawyer can help you avoid paying for production costs (not just drilling costs) which can amount to as much as 1/3 of your royalty. It depends on how well the well produces whether it’s worth it or not, but it seems to me that 1/3 of your royalty is an awful lot.
Thank you for your response. I do appreciate it, and I agree with what you said.
You may want to consider waiting for the pooling action to help you with negotiations. That can be a useful tool for the mineral owner if used properly.
Ask for an Exhibit A that includes a depth, Pugh, and no deductions clause. You don’t need a lawyer to do that.
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