Too much time today spent on research and screenshots so I don’t forget. I am an absolute newbie. Early this year I received a letter from Jay-Bee to lease mineral rights. I never acted upon the offer, no signature. Recently I received a letter from Antero with an offer of $300 total sign on bonus, 15% royalties, which I (inadequately) negotiated to $500 and 17%. This is the description in the letter: County Tyler, District Meade, Surface Tax Map/ Parcel Unknown parcel west of 6-10-26, gross acres 4.10593, Net Acres 0.00855. I know a wee bit more once finding this site, but already signed the lease with the negotiated amounts. The Landsman gave me advice to accept the counter offer, stating that they could come back with a higher bonus sign on but lower percentage than I had countered. My first question is, how much can a landsman be trusted? They act on behalf of the interest of the oil and gas companies, from what I gather. So would his unsolicited advice be proper and trustworthy? I do not have the means to hire a lawyer. I do not have contact with my sister or cousins who likely received the same letter. I also think they must have received a letter earlier, as I did, from Jay-Bee. If they signed with Jay-Bee and I never responded, could I be forced into pooling with Jay-Bee? Or did Antero research that prior to sending me an offer? I have so many questions, some may be moot because I signed the lease and they have received it. I wish there were a manual of all the things to consider, there’s too much to know. Is this of concern to me with the net acres I have ? Or is it too little to worry over? I didn’t know to negotiate the royalties clauses. I didn’t know to strike out the first right of refusal. I didn’t know anything, just went on intuition to negotiate the little that I did. Again, can’t afford a lawyer.
Also, I’ve read that Antero does not sign leases with no deductions anymore. Is that accurate? I’m just curious, since I didn’t know to negotiate anything other than the sign on bonus and the percentage.
How can they know the net acres when it’s an unknown parcel west of 6-10-26? There’s no other description of the parcel.