# New Lease offer North Tip Fayette
**URL:** https://www.mineralrightsforum.com/t/new-lease-offer-north-tip-fayette/77677
**Category:** Fayette County, TX
**Created:** [October 4, 2024, 9:01pm UTC](https://www.mineralrightsforum.com/t/new-lease-offer-north-tip-fayette/77677 "2024-10-04T21:01:56Z")
**Posts on this page:** 5
**Page:** 1
### Author:  [@RunAmuck69](https://www.mineralrightsforum.com/u/RunAmuck69)
#### Post date: [October 4, 2024, 9:01pm UTC](https://www.mineralrightsforum.com/t/new-lease-offer-north-tip-fayette/77677/1 "2024-10-04T21:01:56Z")
Hi, I’m trying to help parents/cousins get a better deal as they had in past with Clayton and Weber. Land is off 152 and Wormley Lane. Most of their land is Bastrop. I own in both counties.
Offer (upped it already from initial): 1/5 royalty $25/ac seismic bonus $125/ac lease bonus $50/ac pre-paid surface usage fee X company will have 1 year to come back and execute the lease 3 years with a 2 year renewal option
Thoughts on this? I’ve read about cleanup here and asking to get that paid for by them. Not sure if that’s correct terminology. Any help appreciated! Thanks, Chris
---
### Author:  [@James\_Garner1](https://www.mineralrightsforum.com/u/James_Garner1)
#### Post date: [October 9, 2024, 3:50pm UTC](https://www.mineralrightsforum.com/t/new-lease-offer-north-tip-fayette/77677/2 "2024-10-09T15:50:26Z")
Chris, the company seems to be offering you a series of contracts based upon their option. First part is a seismic bonus of $25/ac. If the seismic is positive, you are locked into an OGL for $125/ac with a 3/2 term. If there is production, then you are locked into surface usage and possibly damages at $50/ac. All this is in the company’s favor. I would offer a non-exclusive seismic agreement that provided for damages and a fixed amount for the property. I would not allow an option for a future OGL or surface usage since that limits your economic benefits. Good luck to you.
---
### Author:  [@RunAmuck69](https://www.mineralrightsforum.com/u/RunAmuck69)
#### Post date: [October 14, 2024, 7:25pm UTC](https://www.mineralrightsforum.com/t/new-lease-offer-north-tip-fayette/77677/3 "2024-10-14T19:25:19Z")
Hey, thanks! What is an OGL? So you’re saying don’t get into a surface usage unless they are to fix and make it back to what it was?
Thanks! Chris
---
### Author:  [@James\_Garner1](https://www.mineralrightsforum.com/u/James_Garner1)
#### Post date: [October 14, 2024, 10:28pm UTC](https://www.mineralrightsforum.com/t/new-lease-offer-north-tip-fayette/77677/4 "2024-10-14T22:28:32Z")
OGL is the acronym for Oil and Gas Lease. At this point, I would only offer a surface damage agreement related to the seismic. If they come back in the future, you will know the seismic looks good. This puts you in a better position to negotiate.
---
### Author:  [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [January 2, 2025, 9:02pm UTC](https://www.mineralrightsforum.com/t/new-lease-offer-north-tip-fayette/77677/5 "2025-01-02T21:02:02Z")
This topic was automatically closed after 90 days. New replies are no longer allowed.