What are some of the key parts of an oil/gas lease that the owner of minerals should plan for?
Should I demand my Royalty % be based on what immediately comes out of the ground or after production deductions?
Should I demand only a 3 year lease?
Should I stipulate that I am not responsible for any expenses incurred by company drilling?
Should I demand the company carry insurance for "incidents" during my tenure with said company?
Should I demand the company meet me at a bank to cash a cashier's check for the lease bonus, signing papers there?
Should I start high in negotiating lease bonus, playing the game?
Should I demand that I have the authority to send an auditor to verify my interests are accurate at least once a year?
Located in South Kountze, Hardin County, Texas. 106 mineral acres to lease.
Any advice is appreciated; I cannot afford an oil/gas attorney... flying solo on this...