DO NOT PAY ANYONE TO DO WHAT YOU CAN DO YOURSELF FOR FREE!!!
My comments have been misinterpreted by one individual (or more). So my message does not get lost, please consider the following: I am an attorney, but I am not giving you LEGAL advice. I will not represent anyone so please don't ask. I am simply giving my PERSONAL opinion as the 1st amendment to the U.S. Constitution allows me to do.
I am tired of seeing new sites pop up offering to negotiate, draft, advise, etc., folks on their mineral rights, leases, and tax implications. YOU PROBABLY DO NOT NEED TO PAY ANYONE TO HANDLE YOUR MINERAL LEASING ISSUES unless you are a large landowner, complicated title to land issues, or other "unusual" facts are at issue. People don't hire attorneys to negotiate the terms of their mortgages, or credit card agreements, or car leases. There are many complicated legal documents we all sign often without the benefit of an attorney's counsel. There are numerous sites "popping up" which provide accurate information about mineral leasing and mineral rights. It will take some time, but if you read the materials, you probably can grasp the issues relevant to your situation. If you don't feel comfortable after "educating" yourself in the area of LA mineral law and leasing, then seek advice of counsel. If you work long hours and then have kids at home and other obligations that make research impossible, then perhaps an attorney should be consulted.
HOWEVER, BEFORE HIRING AN ATTORNE, CONSIDER JOINING A "NEIGHBORHOOD ASSOCIATION!" I, for example, belong to NorthPark Estates Neighborhood Association. We are landowners who are taking our collective knowledge and expertise and helping each other free of charge to the members. If the association has knowledgeable members, then you don't need to hire an attorney. Just about every neighborhood in Shreveport and Bossier has formed an "association." If you have this option, it doesn't make financial sense to pay for services that you can obtain for free through your "association."
If you must pay someone to handle your mineral lease negotiations, don't pay 2-4%. In my opinion, such a fee is unreasonable. You should pay NO MORE THAN 1%, especially if there is a large group retaining the services of an expert. If you can't get your expert to accept a 1% fee, go to the next person until you find someone who will.
Let me make myself even more clear, if there are complicated legal issues involved, like trusts, you should consider an attorney. If you find yourself in litigation, you definitely need to hire an attorney. If you have a 1/3, 1/2 or 1/4 of an acre, then the costs of an attorney and CPA may be cost prohibitive.
I am tired of seeing new sites pop up offering to negotiate, draft, advise, etc., folks on their mineral rights, leases, and tax implications. YOU PROBABLY DO NOT NEED TO PAY ANYONE TO HANDLE YOUR MINERAL LEASING ISSUES unless you are a large landowner, complicated title to land issues, or other "unusual" facts are at issue. People don't hire attorneys to negotiate the terms of their mortgages, or credit card agreements, or car leases. There are many complicated legal documents we all sign often without the benefit of an attorney's counsel. There are numerous sites "popping up" which provide accurate information about mineral leasing and mineral rights. It will take some time, but if you read the materials, you probably can grasp the issues relevant to your situation. If you don't feel comfortable after "educating" yourself in the area of LA mineral law and leasing, then seek advice of counsel. If you work long hours and then have kids at home and other obligations that make research impossible, then perhaps an attorney should be consulted.
HOWEVER, BEFORE HIRING AN ATTORNE, CONSIDER JOINING A "NEIGHBORHOOD ASSOCIATION!" I, for example, belong to NorthPark Estates Neighborhood Association. We are landowners who are taking our collective knowledge and expertise and helping each other free of charge to the members. If the association has knowledgeable members, then you don't need to hire an attorney. Just about every neighborhood in Shreveport and Bossier has formed an "association." If you have this option, it doesn't make financial sense to pay for services that you can obtain for free through your "association."
If you must pay someone to handle your mineral lease negotiations, don't pay 2-4%. In my opinion, such a fee is unreasonable. You should pay NO MORE THAN 1%, especially if there is a large group retaining the services of an expert. If you can't get your expert to accept a 1% fee, go to the next person until you find someone who will.
Let me make myself even more clear, if there are complicated legal issues involved, like trusts, you should consider an attorney. If you find yourself in litigation, you definitely need to hire an attorney. If you have a 1/3, 1/2 or 1/4 of an acre, then the costs of an attorney and CPA may be cost prohibitive.
Views: 254
Replies to This Discussion
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Permalink Reply by W T Visconte on
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You took the statement out of context. How is it "elitist" to provide a personal opinion when I see lawyers and accountants in big firms taking advantage of regular folks? Are you charging folks for your services and making $ off the Haynesville Shale play?
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No, you misinterpreted my statements and made an inaccurate conclusion based on that incorrect interpretation. It is unfortunate that you have reached such a conclusion. My comments were intended to encourage the average person to study up on the whole "situation."
My message was directed to folks who are ignorant because they don't have O & G knowledge or experience. Stupidity is not ignorance. For example, I was ignorant of "stretch" provisions in IRA retirement plans until I read about them last night.
I have been called a number of horrible things over the years, and perhaps, many of them were correct. However, you are the first person to ever call me an "elitist." It may be hard for you to believe, but there are actually some people in this world who do not have a high intelligence level (for example, the guy who called 911 because the Subway employee didn't make the sandwich he ordered the way he wanted) and this country is filled with lazy people.
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Permalink Reply by smith1 on -
I don't think this is the place to be turning thing political, lets keep to the facts.
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Now that I did not expect; bashing the President like that. I tell you, it's not hard to feel atleast stupid, trying to figure out what your rights and actions should be with the magnitude and complexity of the "oil business". I fully agree that taking on professional advice is paramount in making decisions about the future lease opportunities that exist for land owners in the area; and also to try to figure out your interests bound by the generational past. We appreciate your insights, and I have benefitted from some of your previous advice. Good to have you on the forum. By the way, would you advise using a manangement firm, like Argent, or others in the field to manage and research assests, inforce compliance, ect. Any idea on what type of financial minimums your holdings should be to warrant a companies interest and typical percentage payout on such services?
Thanks,
Shelby
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You are free to misinterpret my statements however you wish. I know what I meant, and apparently so did several other people who read the post. I don't know why you chose to question my motives when I was trying to encourage folks to do it themselves and save their hard earned money.
People sign complicated legal documents everyday without the benefit of an attorney. Credit card agreements, apartment leases, car leases, mortgages, etc. By your "logic," you would accuse me of opining "these people" should consult experts before signing the aforementioned types of agreements as they are all complicated "leases" or legal agreements of some fashion that the average person is too stupid to understand and too lazy to want to understand. I don't think that, and neither does the law. I'm sorry if I ruffled your feathers, but you don't know me.
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Permalink Reply by po boy on
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Guilty of the credit card,cell phone and terms of service... i personally found the lease contract fairly simple compared to these.
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Contracts are generally one sided when presented by the party that seeks to sell something, or in this case, lease something. As you mentioned a mineral lease is a unique agreement where you are getting paid, and the major performance required falls unto the Leasee/Oil Company. No easy task going after Exxon to perform, and so the little guy just has to pucker up a little bit. It is true, that the benefits can be substantial, but, it seems like the common folk is a bit at an obvious disadvantage. Arbitration I think benefits the common folk, in as much as you have a removed party interpreting the facts, and don't get lead down the endless road of legal defense/offense at $300 an hour, forever until the end of time.
Shelby
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I think you and I are more alike than different. I see you provide free O & G advice on another site. When I was talking about people doing homework and consulting accurate other resources, I was talking about sites like you participate in, Geology.com, SONORIS (which is a pain in the ass to use), etc. Our opinions differ on whether the "average joe" can negotiate a fair lease. The world is not coming to an end if we disagree. I think it would be great if you would start a blog on this site under one of the "Topic" areas sharing what you believe should be contained in a mineral lease.
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Permalink Reply by alleyboy on
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I think you two should email one another and quit taking up our space. I'm not, and I'm sure others are not interested in personal spats
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alleyboy,
I think this discussion is pertaining to the law and such; and I certainly appreciate the free advice offered; seems like there is plenty of space, and it is getting late.
shelby
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Permalink Reply by Sunny Chaw on
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Another thing not needed is a Webster Parish "good old boy" who has handled "Many leases" and has "9 page contracts" and is worshiped by locals yet talks to landowners as if he is Boss Hogg and wants 5% of everything. Come on people, you know who I mean?
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