Worth Hiring a Lawyer for Lease Help?

I have mineral rights in two separate properties. On one I have been offered $700.00 for the initial payment of the 3 year lease on 23 acres. On the other, (a city home lot), I have been contacted by a potential lessee. Since the amount of dollars is so small, it is improvident to get advice from an attorney who may charge more than the lease is worth. Any advice???

My advice would be no. If the tract was larger, a lawyer would definitely be worth the money.

Where are the properties?

The properties are located in Mississippi.

Jeff,

Any O&G lawyer will cost you upwards of 200 dollars per hour, so, if it is worth it to you to pay somewhere in the 1500-2000 range for lease draft with some extra protection and a sense of security, than a lawyer is worth it. I caution you- if you do use a lawyer, make sure they specialize in oil and gas and have experience with leases!

Otherwise you could consult a landman for considerably less- somewhere in the 30-50 an hour range. I have done some lease consulting in the past- but I don’t anymore- too busy. I have some names of Attorneys or landmen if you would like them.

Austin (832-767-5387)

Jeff, would you mind informing me which company offered you $700, as I have 26 mineral rights acres I am trying to get the best deal for.

Thanks,

Kenny Love

Austin said:

Jeff,

Any O&G lawyer will cost you upwards of 200 dollars per hour, so, if it is worth it to you to pay somewhere in the 1500-2000 range for lease draft with some extra protection and a sense of security, than a lawyer is worth it. I caution you- if you do use a lawyer, make sure they specialize in oil and gas and have experience with leases!

Otherwise you could consult a landman for considerably less- somewhere in the 30-50 an hour range. I have done some lease consulting in the past- but I don’t anymore- too busy. I have some names of Attorneys or landmen if you would like them.

Austin (832-767-5387)