Can anyone recommend a lawyer to review my lease offer? Do I need a lawyer to do this or can anyone suggest what to look for in terms etc? I have an offer for of $300/acre bonus 3/16th , 3 years with a 2 year option for 320 acres in Burke County, ND.
that sounds better than mine…I have an offer in stark county, $125/acre, 1/6th
I always recommend hiring an Oil & Gas attorney. There are more important considerations than bonus and royalty. Pugh Clause/Surface-Use/Cost-Free Royalty/Limited Warranty, etc…
I would NEVER accept a 2 year extension option.
NOT LEGAL ADVICE
Dear Mr. Losee,
I recommend going to the Web site for the North Dakota State Bar and searching for oil-and-gas attorneys in your county. Technically, no, you don’t need an attorney to conclude your lease negotiations, but for a large tract such as yours I would recommend it.
Sincerely,
Philip Wynne
You don’t need a lawyer per se just someones that knows the game. I have a law degree but have been in the production side for years. I’d love to help, call Bill Jaehne 832-860-3120
Thank you. I will call you. Or if you like call me 951 533 4931. I can email the drafted lease that I have already made changes to.
Bill Jaehne said:
You don’t need a lawyer per se just someones that knows the game. I have a law degree but have been in the production side for years. I’d love to help, call Bill Jaehne 832-860-3120
I was a landman for 22 years before moving to Idaho in 2001. I have been researching and investing in O&G Exploration companies recently due to the explosion of shale plays all over the US. You do not need a lawyer by any means. I would help you negotiate a lease for $50 per hour. I would be happy to send you my resume. Terms are important, but who you lease to is the most important. The terms stated do not seem unreasonable. Bonus amount is one thing that changes with events i.e. well results. Royalty and term of lease are not that critical in the sense that what they offered is not unreasonable. Send me an email to johntowen@air-pipe.com if you would like some professional experience. I am not free but I am not that expensive either. John
To James Weymouth: Where in Stark County is your land. What Township and Range? I have mineral rights in Stark County also and am trying to gather information.
James Weymouth said:
that sounds better than mine…I have an offer in stark county, $125/acre, 1/6th
I recently leased some minerals in Burke County, ND for $400 an acre with a 3/16 royalty and a three year lease. We have recently been asking for a shut in limitation clause, pugh clause with continued development and a vertical pugh clause.
