I would love to be educated about this more if you’re willing to educate me. I have oil and mineral rights and I’m so new to this that I feel really uneducated and vulnerable, not understanding what I’m dealing with
If you are new to mineral ownership, there are many resources to help you. Start with the Mineral Help Tab listed above.
There is a nice little book by Jim Stafford called “Look before you Lease” It is from the 1980’s and a bit outdated, but gives a good overview. NARO (National Association of Royalty Owners) used to have it for sale on their website. www.naro-us.org It may be on Amazon if still in print. Ask tons of questions on the forum. Read the Stephens forum area (and any other counties where you have acreage) and search for any topics that have the same section, township and range as you. Your question may already be answered.
I am unable to find a copy of “Look before you Lease” I am looking at a Continental/Bearcat lease that includes post production deducts. Is there a guideline for avoiding lease terms that are disadvantageous to the owner? Referrals to an analyst would be appreciated.
Every lease can be different. There is no “standard” lease even if it has the label Producers 88 at the top. Every Bearcat lease I have seen tries to get me to sign away my gross royalties and take out post production charges. There is no set guideline for leases, but getting informed as to the clauses that will hurt you helps. You do not want ANY post production charges. There are quite a few threads on the forum that discuss the topic for OK. Other clauses to watch out for are open ended shut in clauses, top lease clauses, options to renew. You want a depth clause, a commencement of drilling clause, no warranty and others. Groups like NARO, the National Association of Royalty Owners have classes in Minerals Management.
I posted a good no deductions clause recently in another thread. (Not giving legal advice, just an observation.)
I have tiny mineral interests in or near T1S R5W. The statements come through with well names. I am trying to reconcile the entries on the statements to the legal descriptions. My statements do not show any legal descriptions. Is there a resource that could help me with locating the wells by name? Looking them up one at a time one at a time would be impractical.
http://www.occpermit.com/WellBrowse/Home.aspx Search by well name and number, result will show location.