Myself, 2brothers, & 3 sisters received a sample paid-up oil and gas lease contract from the land and mineral company-Texas LLC. We are in the process of amending the document to protect our interests in this matter. There is a lot of information on the internet about the leasing subject. The contract in question is very pro lessee. If contacted by Roxann Nolan,(Independent Landman). I suggest all forum members compair notes before signing.
Michael:
I would suggest intense study of any lease contract, regardless of the issuing company, be analyzed with a fine tooth comb. Most important, understand what all the legal statements in the lease actually mean to you, the mineral owner, and make sure before you sign, the lease is in your best behalf. There will be areas which are more negotiable than others but overall, the lease, including the bonus, % royalty and time shoud be at the top of your list. Don't weigh as heavy on the up front bonus money as you do on the % royalty as this will follow you to the end. A three year lease is the max I would negotiate for with no extension. These are your minerals and lease them on terms which are beneficial to yourself.
We have signed a lease from them as well. Our landman is Michael Cordell. We are having problems getting him to respond and my husband is an oil and gas lawyer licensed in Colorado. What are the terms of your lease, if you don’t mind sharing.
Linda:
The terms are 100.00 bonus per net mineral acre-1/8 royalty-5year term with 5year option. This offer is contingent on a 120 day order of payment. Our family has been in contact with Roxann Nolan in reguards to the sample lease agreement sent to us. We have told Roxann that we are not comfortable with some of the conditions of that document. We have indicated that we are interested in leasing our mineral rights. I would very much like to have Mr. Leebrons input on these matters if he is interested.
We signed for 50 and had no idea leases were going for more. I think those are the same terms otherwise. They still won't say who they are really leasing for. Do you have any idea? Are you in Colorado?
Our Landman is representing (the land & mineral company-Texas LLC). I reside in California. I was born in La Junta CO. The McCammond family has long ties to Bent County.