I have mineral rights in Dewey County; I have two companies who have approached me to lease them. Jackfork Land, and Vernon L. Smith and Associates. I've seen a lot of comments about Jackfork, seems like they're reputable, but there's nothing about Vernon L. Smith. The price is not an issue, they are both attempting to compete; I just want the more reliable one of the two.
Both are reliable companies, but neither will keep your leases. They are buying for exploration companies. You can ask each one who they are buying for, but they are not required to tell you. The exploration company that ends up with your lease may not keep it. Often the companies trade leases, or shares in leases, with other companies. Unless there is a particular company you don't want to deal with, you should just make your best deal. Don't forget to get a depth clause, and any other concessions you can negotiate.
I've dealt with Jack Fork and had no problems. Never heard of the other one. My only advice is: stay away from Pro MineralsLLC.
May I ask what the purpose of a depth clause is? Also, can a depth clause be expected to affect the lease price at all?
Thank you in advance.
My family has dealt with both companies with no problems at all. In fact I would highly recommend Roger Lawlis with Jackfork.
A depth clause states that the lease will extend beyond its primary term (be held by production) only as to certain depths. Often it is stated that the lease will only be held as to all depths from the surface down to 100 feet below the stratigraphic equivalent of the deepest formation drilled. There are many other versions. What it does is ends you lease as to 'deep rights' so you might be able to lease again to someone who wants to drill deeper.
Vernon smith is leasing for Carrera energy out of midland Texas . A lot of people has leased to Carrera energy in Dewey county ! Including us ! They were very motivated and at the end offered the most money ! Check leases filed in Dewey county and and see they have done a lot of leasing !
There are places to contact that have just gotten the early results from some of these wells that have been drilled. The court house had 27 people looking up records a week ago and it has been busy for several weeks. The ones offering leases here early are the bargain hunters. It might be to ones benefit to post your legals when you get an offer and it sure won't hurt anything. Just don,t tell the other party what the offer is and you may be surprised. The ones who live away are the ones the early birds get. And my last advice is take the money when it is offered if you need it
What does it mean “to post your legals,” and how and where do you do this?
Thank you in advance.
that means to post the legal description of your minerals acreage. (STR) Section, Township and Range.