Citygirl54 Can you confirm this was a lease with Upland and not a purchase of mineral rights? $5,000 at 1/4 royalty in this area seems to be much higher than others have shared about their leases in this area. Thanks for sharing your experiences.
It is a lease on 2.5 nma. You gotta fight for it, lol. In other words, keep saying no deal to a few until you are sick of it. A cousin did even better but they owned more nma.
They illicit POA’s for after closing for use by them, they often back the effective date a few months prior to the actual closing in order to gain extra revenue if you have producing minerals, they craft language that gives them any suspended revenue that may be owed to you or any other revenue due you, they most always attach a Mineral Deed to be used in the Transfer. That Mineral Deed will often insert the phrase “ AND ANY OTHER MINERALS YOU OWN IN THE COUNTY” immediately after the property description of the minerals they are proposing to buy, they want you to warrant title,. Don’t you think that having an O&G lawyer look things over. There are many other things in those documents to beware of.