My wife and I are getting numerous offers to lease our mineral rights in Garvin County, Oklahoma, Section 27, 1N, 1E. In addition to a somewhat low offer from Continental Resources (with whom I am familiar) there are several companies that I have never dealt with nor heard about before. These other companies have proposed significantly higher offers than Continental Resources. Is there a reference or resource where I can look up these companies to determine whether it would be safe to lease to them?
Most of the leases in that section are being flipped to Continental or are from third parties wanting a piece of the pending well. Continental will have to abide by the third party leases. Usually they will offer better clauses and amounts. It would be wise to get an attorney to look over any draft leases as they are usually not in the mineral owners’ favor. A bit of investment now, can pay off in the future.
Continental will only have to abide by lease information they can obtain. If I don’t tell them the terms of my lease, how will they know what to testify too? After all, lease information is not recorded at the court house.