I & my Mother-In-Law are meeting with a Landman Friday morning to discuss 14 acres of minerals she owns. Apparently she was missed somehow, almost 3 years ago, when the rest of the mineral owners were offered leases, including her ex-husband (my Father-in-Law). Now there are 2 wells in the pool with one of them just coming online about 2 months ago. A Landman contacted her last week and left a copy of a lease agreement. This lease is only offering $200 acre and 3/16ths.
This seems really low to me considering there are many wells going in all around this property! The property is located in Robertson County, Texas. I think leases do not normally pay as much out here in the country like they do up around DFW, but this lease seems like an offer that would be given where there are no wells anywhere in site, let alone having 2 already drilled.
Neither of us are experienced with this and we have tried to contact a local lawyer, but he has not returned our calls. What should we be asking for from the Landman Friday?