I have some question about a lease that My Family and I have been contacted by a leasing company about, leasing our mineral on some land in Grayson County that has been pass down to us. There is 5 of us and each share is 4.085 and they are offering us each $200.00 per net mineral acres for a 3 years paid up lease with 15% royalty. One of the thing in the lease show that the (Lessee shall be subrogated to the rights of the party to whom payment is made and, in addition to its other rights, may reimburse itself out of any royalties or shut-it royalties otherwise payable to Lessor here under and the retention of such royalties or shut-in royalties by Lessee shall have the same effect as if paid to the Lessor.
(1) Will we still get royalties for a shut-it wells, or will the royalties stop? I do not understand this part of the lease.
(2) What does this mean reimburse itself out of any royalties or shut-it royalties?
(3) The company name is Concord land services, I can not find out to much information about this company.
(4) Also can one family member lease land that is also deeded belonging to the other heirs of the mineral right estate without letting the company know and letting the family know any thing and keep all of the royalties?
(5) On the 15% royalty can this part be strike or remove or change to 20%?
Any help is appreciate I just need to find out before we sign. Thank you Dessie Orona