I have a 50% interest in a little over 540 acres in the above mineral rights. I have received a call from a landman wanting to lease those rights. I did this once over 10 years ago for my Father, who owned the rights then. From what I am seeing on this website, rates appear to have gone up. I would welcome any insight into current leasing rates and agreement terms that I should be looking for. I have called the man back this morning, but have not spoken to him yet. Thanks all for your help and insights!
Randy,
With that amount of acreage it would be worth the cost to get someone like attorney Wade Caldwell, who is very active in Reeves, to negotiate for you. I have seen plenty of stories on here that the amount he got the bonus increased more than paid for his fees. Not to mention all the other clauses and language that need to be negotiated outside of royalty and bonus.
Just my two cents.
Best of luck,
Cameron
Best of luck,
Cameron
Thanks, Cameron. You seem to have a lot of faith in Wade Caldwell. Do you mind sharing with me what it is you like about him and why you have such faith in him? Have you used him before?
Randy,
I have never used him before or spoken with him personally. I have just heard stories on this forum over the last few years of people who have hired him to negotiate their leases and he was able to increase their per acre bonus greatly and negotiate them really good terms. From what I can tell he really has his ear to the ground in Reeves County and knows what each different area can bring in as far as bonus goes and he can probably get you the most favorable language in your lease. Again, I have never spoken with him before or used him but I have heard nothing but good things. So take everything with a grain of salt but might be worth a call to speak with him and see if you think it is worth it.
He is very active on this forum so you can look and see all of his comments or possibly search his name and see what other people have said about him. I normally wouldn't reccomend hiring an attorney but you have a good amount of acreage.
Again, best of luck to you!
Cameron
Thanks, Cameron. I've seen Wade's name frequently and will give some thought to your suggestion. A little expertise in this matter might certainly be worth it.
Hi, Randy. Just wanted to tell you I have used Wade Caldwell more than once. I highly recommend him. He and his firm stay on top of things, stay in constant communication with you during negotiations, prepare leases to cover your interests, not the lessee’s, and incorporate the necessary language and terms that are mandatory in complicated leases of today. Congratulations and good luck. Linton Tomlin
Hi Randy, did you ever find out what rates are going for in your area? Did you end up leasing? That’s a good amount of acreage you got there. Thanks