I have land in Reeves County that presently has a producing well (for approx. 6 months). When the land use and royalty agreement was done it was recommended by Browing Oil to use the Univ. Texas System for Rate and Damages Schedule. For the first land use I accepted this for land use payment. Since them I had a request for an easement that would only pay me less that $1000.00 and I call a contact with Rate and Damage Schedule and found that his opinion was that the fees where typically more fair to the developer than the land owner.
Question 1. Is this typically true. And If so is it still fair.
Question 2. Since I did sign a development agree stating that the Univ. Texas
Schedule would be used am I bond by this. If yes so be it. If no should the developer work with me. What fees should I use to discuss this with them to be fair to both sides.
I am now dealing with Oxy USA and not the original Browning.
Trying to learn.