We own oil and mineral rights in Moffat County, CO.
Section 20, 29, Township 8 North, Range 89 West
Our family was sent out drafts for gas and oil toplease agreements for us to sign by a company called Nextenergy from Denver Co. They say they are in partnership with HRM Resources, LLc which owns and operates the Buck Peak and Grassy Creek Niobrara oilfields. Anybody hear of this outfit? Is this another brokerage for oil and mineral rights or do these people actually drill?
Offer is $35.00 / acre initially with $100.00 per acre when the previous lease terminates. 15% royalty and 5 year lease. Does this sound fair?
What does" 21.73 net acres under 239.03 gross acres" mean?
Thank you for any information you may have to share with me. I am trying to learn all I can before I sign anything!