I’m new and I’m looking for some honest advice ? I have lots of questions I’m at work right now. Does anyone have any info about blue ribbon , bistro or Lynx . And A man named Allbright ?
yes, yes, yes and no. You would have to be a bit more specific about your section, township and range as those first three names floated around quite a bit in Caddo for a while.
mudmaniac- Blue Ribbon i think was bought by Roan. AS for Greg Allbright, I would call Blue ribbon as i have not had a phone call from him… in a while
Do you or have you had any dealings with gre Albright, business wise I mean . He has sent me some lease contracts with a check also . I am totally new to this stuff . I don’t know much about this business and I don’t want to make any mistakes or to have someone try to take advantage of me . This is the first time I’ve had anybody want to lease from me, so it’s hard to know if I.m doing the right thiing.
In most cases, the first lease draft I have received from any company is not the lease I want to end up with. The first draft will be in the favor of the lessee and I negotiate to get clauses that are more in favor of the mineral owner. I always ask for more royalties and more bonus as first offers are usually low in amount. I am very cautious about any lease offer that comes with a check and read them very carefully. I have received some that say “lease” at the top and they are actually a bill of sale. I mark through that document with a magic marker and also the check so it cannot be cashed. Read the wording on the check carefully. It may look like a check but actually be a bank draft which is not the same thing. Read through the comments on Caddo over the last few years. If you have significant acres or even small acres, I would suggest getting an oil and attorney to read over the lease and make suggestions for changes. Ask the offering company or landman who they are leasing for. Who will be the operator, when do they plan to drill, what horizon are they planning to drill, etc. I want a gross proceeds lease, not one with post production charges. I want to limit shut in time. I am not a fan of options to renew. I want a commencement of drilling clause, no warranty, want a depth clause for starters. (not an attorney, just giving suggestions)
If anybody has met Albright in person or spoken to him, please let me know as soon as possible. His name has been mentioned a few too many times for my liking and I worry that it may be somebody I know. You can look him up on Facebook - beanie and a beard
This topic was automatically closed after 90 days. New replies are no longer allowed.