Net to gross acres when selling! Help!

Karissa · 2018-10-30T20:03:22Z

I inherited land. There are 2 tracts one has 79 acres the other 40,000 acres. It had to be split between heirs. A gas company sent me a lease saying I gross 119 acres but the net acres they wanted to lease was .3125. Now a new company wants to buy they told me it would take 120 days to figure out how many net acres I have. They offered so much per net acre. So would I be selling 119 acres or only how many net acres of gas they will get? So confused I have never handled this type of thing.

Oil and Gas Leasing Help

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