A landman contacted us about some rights to this section that we did not know we owned before now. He's offering $6,000 per acre. My brothers want to sell and my sister and I are thinking about keeping them. I've done some research but I have a few questions:
1. What happens if I don't sell? Does the money owed just pile up somewhere until we agree on a lease with someone? I read about suspended funds but how does that work? I saw they are already drilling and believe it will be pooled since it's horizontal drilling.
2. I read that you want no deductions in a lease and think 3/16 is fair. Is that what I should look for? Can anyone recommend a company that they know has offered no deductions?
3. Anything else I should consider since I'm fairly ignorant about mineral rights?