Basic lease example

Is there anywhere I could find a standard basic lease example which would teach me what to look for and look out for in these things? Appreciate any help anyone can give. I don't trust a lawyer just looking something over and saying 'it's a pretty standard lease with good numbers'. I got screwed for 5 yrs. on that which is now up finally this past March.... Now I'm wanting to be sure it's all good for ME too.

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Permalink Reply by Skip Peel - Mineral Consultant on August 19, 2010 at 4:06
All lawyers are not created equal. For the review of an O,G&M Lease, an Oil & Gas attorney is required. Do not get confused by reviewing suggested lease language for the wrong state. LA. and TX. are different. It is helpful to those members who would offer assistance to know in which state the minerals are located. It is easier and more important to focus on a good "Exhibit Page" as opposed to the form lease but a qualified attorney should review and approve the combination.
Permalink Reply by Charles on August 19, 2010 at 17:04
Living here in Louisiana.
Hopefully we'll get in on the next round.
Permalink Reply by Henry on August 19, 2010 at 23:38
Charles,
This is an old list of items that Kassi once posted that landowners could think about getting in a lease. Typically, the gas company will hand you their "standard" lease to sign, and it is your job to get a good attorney to draw up the Addendum. Your protections will be in the addendum. I view this list as a wish list -- it is not clear that all landowners, especially small landowners, will get concessions on all of these items.
Attachments:
Permalink Reply by Henry on August 19, 2010 at 23:41
Charles,
This is a copy of Chesapeake's standard lease.
Attachments:
Permalink Reply by Charles on August 20, 2010 at 1:17
Appreciate it. Want to get familiar with the terms and start my list of questions and such.
Permalink Reply by JD on August 21, 2010 at 4:38
Henry,

I read the CHK standard lease doc you attached and compared it to an old lease signed with another operator years ago. The biggest difference I see, and probably the most damaging to the lessor, is the DISCLAIMER OF REPRESENTATIONS at the very end. I do not see that disclaimer in my old lease. Read it carefully. I wonder if the other major operators are putting in similar disclaimers?
Permalink Reply by DJG on August 21, 2010 at 4:49
Attached are a few guidlines from the Texas Land & Mineral Owners Association that can be helpful...
Attachments:
Permalink Reply by Charles on August 21, 2010 at 9:54
Appreciate the info.

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