My husband has mineral rights on section 29, township 14N, range 14W, E2, NE. It has been pooled and we dont understand all of it. Can anyone give me some information on pooling? Our lease is up and we dont know if the pooling will make a difference on being able to lease the rights again.
Tracie,
If the minerals are not leased, you have 20 days to elect what is offered and return it certified, return receipt. If you do nothing you will get maximum bonus money and 1/8th. I always go for the maximum percentage offered(1/5, 1/4?) and a lower bonus.
Do not delay!
It was under lease when it was pooled but the lease has run out.
Tom Ed Moore said:
Tracie,
If the minerals are not leased, you have 20 days to elect what is offered and return it certified, return receipt. If you do nothing you will get maximum bonus money and 1/8th. I always go for the maximum percentage offered(1/5, 1/4?) and a lower bonus.
Do not delay!
When you say it was pooled, is your husbands name listed in the pooling and has the pooling been ordered?
If not ordered yet It's best to contact the company doing the pooling and do a lease with them before the pooling is ordered so you can get a better lease agreement with them. You won't get any better offer on bonus or royalty but you can ask for and get beneficial clauses that you won't get in the pooling order.