I was contacted recently about mineral rights that my late husband had inherited. The land in question in located in Montague county Texas. There are three tracts of land, totaling 156.75 acres. They are offering to pay $250 per net mineral acre for a paid out lease on this land, for the term of 3 years. Can anyone tell me if this is a good price?
I don’t think so, some people around Forestburg are getting $600+ per acre with a 25% royalty with a lease for two years, that if nothing is initiated, has to be re-leased. Chuck Bartuch in Muenster is familiar with that area, and you might want to consider contacting him. I would NEVER deal with a lease-hound - I would ALWAYS go through an attorney. Personally, I DO NOT TRUST LEASE-HOUNDS or leasing agents or landmen - NEVER NEVER NEVER!
Thank you, I have been very confused about what to do ever since getting the paperwork from this man. He also sent a bank draft that my bank refused to have anything to do with. I had already decided to contact an attorney about this. Can you tell me how I might be able to get in contact with Chuck Bartuch? Is he a lawyer in that area?
Susan Nolen said:
I don’t think so, some people around Forestburg are getting $600+ per acre with a 25% royalty with a lease for two years, that if nothing is initiated, has to be re-leased. Chuck Bartuch in Muenster is familiar with that area, and you might want to consider contacting him. I would NEVER deal with a lease-hound - I would ALWAYS go through an attorney. Personally, I DO NOT TRUST LEASE-HOUNDS or leasing agents or landmen - NEVER NEVER NEVER!
Chuck Bartuch is an attorney in Muenster Texas. What is the name of this man who sent that bankdraft? He was setting you up and that is really bad - I think it’s called acting in bad faith - definitely unethical! Be sure to give Chuck a call - most attorneys will do a no-charge cousultation - be SURE to tell this guys name and everything he did.
I’m finished
Amber, I haven’t been able to as of yet. I just got an email from Jason saying that he was able to a $150 bonus and 22.5% on the royalties. I am just not sure about how to go about negotiations. I feel SO inadequate, and afraid that I am going to mess up the whole thing.
Amber L Poynor said:
Hey Tricia,
It’s Amber. Did you find anything out from the attorney that Susan mentioned because I was also contacted by EOG Resources? I have not yet tried to do anything with the stuff that he sent me and I am glad that I found you on here because I was wondering if you and Jason had been contacted by this company as well.
Amber, Patricia - DO NOT LET JASON sign up for $150 bonus - it should be several hundred dollars more PER ACRE and a 25% royalty is the LEAST you should accept. Are you related to the late Billie and Jace Poyner? That would probably mean your property is out toward Saint Jo - I beg you to call Chuck Bartusch - EOG is who my family has been dealing with, but it is a landman’s job to lease and negotiate royalties for the very least amount of money - $600.00+ per acre is a more accurate price per acre. For convenience sake, if you have 40 acres, the leasing bonus would be $24,000.00. If you had 400 acres, the bonus would be $240,000.00
It is your decision to make of course, but if you accept that bank draft, you are locked in - you could be hit with disposal fees, all types of charges if you don’t have a good attorney look at your lease agreement. You can take my advice or not, it’s what the attorney negotiated for my family.
Amber L Poynor said:
Wow, $150 bonus and 22%. I don’t think he talked them into 22% of the royalties but when you take 100 and subtract 33% (your share of the mineral rights) then divide the rest by 3 (the number of living descendants that dad had) you get 22%. In my letter it said that I am only entitled to 18% so maybe he talked them into giving him his actual percentage due to the descendants. The funny thing is that I don’t believe that Dad every knew anything about this. I am going to check with my bank tomorrow to see if they will have anything to do with the “bank draft” from EOG and I also sent Mr. Petttus a letter with a bunch of questions. As of this point my advisor says that there does not seem to be any reason not to do this but would like to see what kind of answers I get from the representative before actually signing the contract. I will keep you informed of what I find out.
Patricia Poynor said:Amber, I haven’t been able to as of yet. I just got an email from Jason saying that he was able to a $150 bonus and 22.5% on the royalties. I am just not sure about how to go about negotiations. I feel SO inadequate, and afraid that I am going to mess up the whole thing.
Amber L Poynor said:Hey Tricia,
It’s Amber. Did you find anything out from the attorney that Susan mentioned because I was also contacted by EOG Resources? I have not yet tried to do anything with the stuff that he sent me and I am glad that I found you on here because I was wondering if you and Jason had been contacted by this company as well.
I am really sorry to hear this. Having known others who were so severely cheated by landmen - I am very passionate about helping others not be cheated too. Just remember in the future, if nothing is done on your property, probably within 2-years, (it would be stated in the lease) - this process starts all over again - you will have more knowledge and will know what to ask for. I’ll be happy to share my knowledge with you at that time if you want - you can contact me at P.O. Box 487, Los Alamos, NM 87544 anytime. Also, I am a paralegal and while I can’t give you advice, I can share with you what I know others have done. In the meantime - if you haven’t already done so, I recommend reading about the Pugh Clause. You might also be able to search the internet and find examples of reliable leases. I’ll help you in anyway I can. Also, a reputable lawyer who knows the oil and gas industry in this area should give you a free initial consultation. Also, it doesn’t matter whether your father knew about the mineral rights or not - any lease hound who knocks on your door already knows everything there is to know about the property they want to lease - they might not be able to find all the heirs, but they do their research at the court house of the county where the propety is - just don’t trust them - that’s all.
I knew most of all the Poyners in Montague County - would you mind telling me who your father was?
Amber and Patricia:
Things like this come around maybe once in a lifetime, so don’t act to quickly. You will not be left out, I know for a fact EOG will not leave you out. Tell your landman $600 per acre and 25% royalty or you will wait for the company to call and sign you. your bills are temporary, but the royalties are locked in for a lifetime. You can also go online to AllExperts and they will answer your oil and gas questions and you can read other questions from the past that may help you. They have some good experts on oil and gas and leasing in Texas. AllExperts will answer for FREE. Go to AllExperts, then click on Indusrty, then click on Energy/Environment, then click on oil/gas and you are there.
Good Luck and be patient and listen to all who will give you thier advise. I have walked down this path myself and know firsthand.
Dennis
His name was Rickey, but as far as I know, he hadn’t lived in Texas since he was a small child.
Susan Nolen said:
I am really sorry to hear this. Having known others who were so severely cheated by landmen - I am very passionate about helping others not be cheated too. Just remember in the future, if nothing is done on your property, probably within 2-years, (it would be stated in the lease) - this process starts all over again - you will have more knowledge and will know what to ask for. I’ll be happy to share my knowledge with you at that time if you want - you can contact me at P.O. Box 487, Los Alamos, NM 87544 anytime. Also, I am a paralegal and while I can’t give you advice, I can share with you what I know others have done. In the meantime - if you haven’t already done so, I recommend reading about the Pugh Clause. You might also be able to search the internet and find examples of reliable leases. I’ll help you in anyway I can. Also, a reputable lawyer who knows the oil and gas industry in this area should give you a free initial consultation. Also, it doesn’t matter whether your father knew about the mineral rights or not - any lease hound who knocks on your door already knows everything there is to know about the property they want to lease - they might not be able to find all the heirs, but they do their research at the court house of the county where the propety is - just don’t trust them - that’s all.
I knew most of all the Poyners in Montague County - would you mind telling me who your father was?
Do you know who his parents/grandparents were? Also, the P.O. Box is 485! Didn’t catch the typo!
Dennis, this is excellent advice. I just want to cry when I realize someone is being taken to the cleaners. Hopefully several people will read this and benefit.
Dennis Broadbrooks said:
Amber and Patricia:
Things like this come around maybe once in a lifetime, so don't act to quickly. You will not be left out, I know for a fact EOG will not leave you out. Tell your landman $600 per acre and 25% royalty or you will wait for the company to call and sign you. your bills are temporary, but the royalties are locked in for a lifetime. You can also go online to AllExperts and they will answer your oil and gas questions and you can read other questions from the past that may help you. They have some good experts on oil and gas and leasing in Texas. AllExperts will answer for FREE. Go to AllExperts, then click on Indusrty, then click on Energy/Environment, then click on oil/gas and you are there.
Good Luck and be patient and listen to all who will give you thier advise. I have walked down this path myself and know firsthand.
Dennis
His mother was Lois Delores Poynor, I believe she went by Delores, and his grandparents were Joseph and Regina Youngblood Poynor. His father was Claude Walker.
Susan Nolen said:
Do you know who his parents/grandparents were? Also, the P.O. Box is 485! Didn’t catch the typo!
Well, I didn’t know them - the Poyners must have gone back further than the Poyners I knew.
Patricia Poynor said:
His mother was Lois Delores Poynor, I believe she went by Delores, and his grandparents were Joseph and Regina Youngblood Poynor. His father was Claude Walker.
Susan Nolen said:Do you know who his parents/grandparents were? Also, the P.O. Box is 485! Didn’t catch the typo!
From what I have been able to find, the Poynors’ have been in that area for a very long time, and there are a LOT of them.
Susan Nolen said:
Well, I didn’t know them - the Poyners must have gone back further than the Poyners I knew.
Patricia Poynor said:
His mother was Lois Delores Poynor, I believe she went by Delores, and his grandparents were Joseph and Regina Youngblood Poynor. His father was Claude Walker.
Susan Nolen said:Do you know who his parents/grandparents were? Also, the P.O. Box is 485! Didn’t catch the typo!
Hello, I am Rickey Poynor, from the Montague County TX Poynors. I saw Rickey Poynor in your discussion, just curious. I left TX in 1963, when I was 8.
Wow, that is an interesting coincidence. We are talking about my late husband, Rickey Lynn Poynor. He did have ancestors in Montague Co, but grew up in Kansas himself.
Rickey Carl Poynor said:
Hello, I am Rickey Poynor, from the Montague County TX Poynors. I saw Rickey Poynor in your discussion, just curious. I left TX in 1963, when I was 8.
Patricia: I recieved a poor first offer per acre bonus and a draft with a lease to sign and had no idea that we even had mineral rights, that is how it started with us. You should get four times the bonus per net mineral acre and you should be able to sign for 25% royalty, which is the most important part of your signing, this will make you money, in time. We had five different offers. I waited to sign with company and yes, GOT THE BEST DEAL!!! Tell your landman this, he will deal. We had a small interest, but we still got a great deal from the company.
P.S. Hope that AllExperts.com helped you.