looking for current mineral lease form

Texas Mineral Rights Reeves County, TX
#1

hello -

we hope to be leasing soon and are wondering what the most recent lease looks like.

basically, what clauses are being included nowadays and which are being avoided? i know a pugh clause is important because that inclusion in our original lease is what now gives us more minerals to lease. beyond that, we are not current on how to see that a lease is protective for us and in our best interest.

perhaps there is a link on a website with really good sample leases.

any general and specific comments are appreciated.

thanks.

#2

You might want to add language to make it clear that you get paid for flared gas.

#3

Thank you M A for that information. That is so helpful to us that have no knowledge in this area. Thank you.

#4

thx

#5

i answered my own question courtesy of following another posting:

http://www.courthousedirect.com/

i subscribed to their lease alert and there are umpteen leases and other related legal documents posted including so many types i did not know even existed.

some are brief and some in detail and all informative and certainly contain enough keywords to speak intelligently about a lease [or other related document] to a lawyer or leasing agent.

#6

Richard You need to be very careful on OG leases of record under any website. When and if you “cut and paste” clauses et al, you may end up with conflicting language which may be “interpreted” in favor of the Lessee. I see too many leases with jumbled formats and confusing language. Your oil/gas attorney should have a decent feel for what is current in law and RRC rules (which get operators shopping for what works for them). Good luck

#7

Richard,

In my humble opinion, it would not be wise to attempt to be your own attorney. My thought is, depending on how many net mineral acres you have, your bonus money will likely be a hefty check which can more than cover the fee charged by a good oil and gas attorney. Better to be covered by someone who really knows the ins and outs than to save a few bucks now and possibly lose out on a boat load later. Best of luck either way.