Is $1500/A in the ballpark for Sec 16, Blk 42, Tnp 2S, Ector County, Texas Mississippian lease offer inside Odessa city limits? 5 years with 2-year extension option, 25% cost free?
Any info is appreciated.
Local folks would need to answer, but it would be wise to get an attorney to review any offers. Several are listed in the Directories tab above. Personally, 5 years with a two year extension is too long. Be careful about the cost free offer. You would want a lease without post production charges, but the offer could say “cost free” and the lease language might say something entirely different.
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Thanks Martha. The minerals are in Ector County. I live in Oklahoma. Should I contact a Texas oil and gas attorney?
Yes, Texas law is different than OK law, so the lease clauses can mean different things with the same words. So best to get a good oil & gas attorney from Texas to review Texas leases.
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