Hello,
I am looking for a little advice. I live in east Fort Worth, Tx (Tarrant County). Dale Resources has drilled a well and they are producing from it. I just never signed a lease. I have about 1/3 acre and just figured the few hundred dollars signing bonus and a few dollars in royalties every month wasn't really worth it to me. I was also under the assumption that if they began producing and I hadn't signed a lease, then they would pretty much have to pay me 100% minus the cost of production. I am likely way off base on that assumption but the following link is what led me to believe that something along those lines might be correct.
http://blogs.star-telegram.com/barnett_shale/leases_what_if_i_dont_sign/
Well, now they are contacting us a couple of times every week about signing a lease. I think the last time they talked to my wife, they offered $2K (I assume that was per acre) and 25% royalties. They also said something along the lines of "If that isn't good enough, just tell us what you want."
I really don't care about an extra $50/mo from royalties. I would probably rather keep my mineral rights if that's all they will pay for them.
What should I do here? Just sign and take whatever they are willing to give? Can I ask for more?Am I being unreasonable? They are my mineral rights and I don't feel like I should be forced to lease them, but they sure are being insistent. Any thoughts would be appreciated. Thanks.
Jay