We have an unsolicited offer, under negotiations at present. Any news of current or future prospects in this area? We will likely just sell outright the surface and minerals, as this is a complicated business. This has been in family3 generations now, Gas well "Loper A "plugged some time ago. What is standard practice in this type of sale? Sales contract and deed sign off? If landman has been used to negotiate, what is standard practice for compensation? Percentage (he is asking for 9.5%), and is this compensation directly to him from sellers or skimmed off top of sales price? We are seeking lawyers for oversight, as want everything on the up and up with no shenanigans....
Not sure if you should sell versus lease as most folks never sell. For what it is worth, we leased mineral rights in Section 9 Block 48 in Pecos County in February 2017. 3 year lease offers started at $1,200 per acre and ended up at $6,000 after six months of back and forth with multiple companies involved. Highly recommend using an oil & gas lawyer to negotiate a lease or sale contract.
thanks for your input, appreciate opinions on this!
We have a share in section 20 blk 48 in Pecos. Can you share the name of your attorney, because we need help finalizing a deal. Also, we are selling 1/2 for $180,000. This was $50k higher from other offers. Any advice?
My deed is from 1959 (inherited) and has 15/640 which I understand is 15 acres shared out of 640 acres…