New to List - Montague County TX Leasing Terms


I am an owner of a small part of a tract in Montague Co. that is currently being negotiated with Braden Exploration. Does anyone know about this company's practices? Reputation?

They have offered $650 per acre with $350 for a extra two year option and 18.75% (3/16ths)royalty. After some discussion they have come up to $800 per acre and 20%. Is this comparable or still low?

What other terms in the lease should be considered? I have some about continuous drilling vs perpetual royalty. Has anyone had experience with this?

Can anyone recommend an oil and gas attorney to talk to?

Thanks, TS

Hi Mr. Vining -

I don't know Braden Exploration, but can ask around.

Montague has been quite active the past few years with some excellent wells being brought in.

Where is your land and how large a tract are we talking about?


Charles Tooke

Certified Professional Landman

Fort Worth, Texas


I negotiated with Braden for over a year. The longer you hold out the sweeter their deal gets. 20% is low and considering that Montague is pretty hot because they have oil I think you could squeeze more bonus out of them. Don't forget to write in surface protections in your lease even if they are drilling the well on someone else, you need some surface protections. They make a big mess and your land will never be the same. I strongly advise you get an attorney.