I inherited my dad’s mineral rights about 30 years ago. It is 62 acres in Shelby county. Shortly after, I leased it. I was naive back then - didn’t contact a lawyer. The payments have reduced to almost nothing over the years. I leased to Ellora Energy back then, currently, XTO has it. I know that lots of variables effect the payment, but I would like to just find out if I could get a better deal. Who do I contact, a lawyer or landman or mineral companies or…? Do you have a referral of a reputable person who can help? Thanks.
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If you have continuing production and royalties then you are bound by the lease that you signed until the terms of the lease are no longer valid. At the cessation of production under those terms you will be free to lease again. Many of us are bound to old leases from prior generations or early naive leasing.
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Disappointing news, but good to know. Appreciate it!