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?