My wife received a contract from Burlington Resources O & G co to lease mineral rights on 113 acres of land near Hochheim in Dewitt county. Her Grandmother sold this property in 1961 but retained the mineral rights. They are offering $3000.00 per net mineral acre for a 3 year paid up lease and a 1/5th royalty and a $9520.19 bonus. They are baseing this on 15.666 net mineral acres. I would appreciate any input from anyone in that area who is having dealings with this company.
At least one that I am personally aware of in Dewitt Count, several in Karnes County and with the IP's of wells in Gonzales County I would think there would be some up there as well. Most of these are in the oil area. Depends where his property is to what area he is in.
I hired an atty. and he negotiated with them and they wouldn't budge from the original offer. They said if we didn't accept the terms of the original offer, we would be put into a pool with other mineral rights owners, not paid the bonus, and would receive equal payouts with all other rights owners as the wells were drilled. On our Atty's advice, we signed the lease and received the bonus. We haven't heard from them since.