My family was notified of a small % of mineral rites in Lynn county from many generations ago. We were contacted and sent a lease agreement that looked like a standard form of some kind. We all signed and sent it back in. My question is...... If a good well is drilled, have we already agreed to a persentage of royaltys?
Generally, a lease agreement will specify your lease bonus being paid, your royalty percentage, and the length of the lease. So, if you have already signed an agreement, most likely you have agreed to these specification as stated in the lease agreement. Check your copy of the lease agreement that you signed to see if these particulars are specified.