Received lease - now what?

Hi Liz,

Not sure if you signed the lease. The first thing to be aware of is that every lease is negotiable. In most states, the operator has an incentive to negotiate a lease with the mineral owner rather than force pooling them. It is the same in ND. Don’t ever take the first lease offer. Think about what is important to you and focus on that term (royalty rate vs. lease bonus). As far as force pooling in ND, the statutes are pretty favorable to the mineral owners. In other words, getting force pooled in ND is not a bad thing as the mineral owner will get a minimum royalty rate until the well pays out with a penalty and then will get its full share of production.

Dave