My wife and I are new to this and could use some input. We have some Mineral Rights in the above location and have this week received a letter giving use options for leasing our interests. The options are Bonus of $1600/ma at 1/8 royalty, $1500/ma at 3/16 royalty, or $1250 at a 1/5 royalty. The letter doesn't provide any more details as to other terms of the lease.
I have a few questions:
- Is this a normal way for the company to approach us to lease our interests?
- Why is there no detailed information as to the terms of the lease?
- If we wait and get force pooled are we likely to be in a better or worse position?
- Does anyone have any idea of how many $ per month / MA wells in this area are generating?
I hesitate to move forward with the letter without knowing more about the lease terms, or am I being overly cautious?