Alot of People Making Alot of Money for Doing Little
I have been around the legal field a fews years now and based on what I am seeing, there are alot of "experts" out there earning millions for not doing much. Sure, they meet with you, fill out a few forms & and put your name where Ms. Yancy's name used to be, send the forms in, make a few phone calls, yada yada yada. IE spoke to some people who wanted 6% on our 300 acre plot..if we were to get $10,000 an acres that would be $180,000 for 6 weeks worth of work and because they had a few "contacts".
My question. Where are all these folks going to be when you get served or need to serve those papers 3 years from now? ...oh, they will be there alright...for $400 an hour. Keep this in the back of your mind as you are negotiating..especially if you are using an attorney that does litigation as well...ask for a % discount to represent you if your contract ends up in court....because if you end up in court, it's likely because your contract wasn't constructed soundly...
My question. Where are all these folks going to be when you get served or need to serve those papers 3 years from now? ...oh, they will be there alright...for $400 an hour. Keep this in the back of your mind as you are negotiating..especially if you are using an attorney that does litigation as well...ask for a % discount to represent you if your contract ends up in court....because if you end up in court, it's likely because your contract wasn't constructed soundly...
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Permalink Reply by DrWAVeSport Cd1 on
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Thank You Haynesville!
Heads Up to All Haynesville Shalers: If you are relying on "someone else" to get "you" the best contract and "you" have not done "your" homework, then "you" will be the only one crying in the end. And, "you" will have paid handsomely for those tears.
Take an evening off from everything else in your life...and READ:
"Information about Oil an Gas Leasing For Surface Owners Who Also Own Their Minerals," written by David McMahon, Attorney at Law, Charleston, West Virginia. (Dated May 16, 2008) This 28-page article is directed to the "smaller" landowner. You can download this article at:
http://www.wvsoro.org/resources/minerals_royalty/LeasingAdviceWVa20...
Although some material does not pertain to those of us in the Haynesville Shale Play, and this document is geared toward those who live in WV, it is a very good read. Mr McMahon covers lots of ground, but he speaks with language "you" will be able to understand. He lays out point-by-point an easy walkthrough of O&G leasing agreement terminology. If "you" learn about just a couple of items listed in this manual that "you" did not know about before reading, "you" might just "save" yourself OR "earn" yourself a sizeable chunk of change...moneys you could have been earning had the O&G reps., or your attorney, "mentioned" to "you" or include in "your" leasing contract. Once you sign, you cannot change your mind!
Be well prepared before you go into a leasing contract. You may find out that "you" are the one in the room who knows more about mineral leasing than anyone else!
And since all of us Haynesville Shalers have that "Southern Hospitality" edginess to us, if you learned something from Mr. McMahon's work, send him along an e-mail to say Thank You...He may have very well saved "you" some "blood, sweat & tears."
E-mail address for David McMahon: wvdavid@wvdavid.net
TGIF Shalers!!
DrWAVeSport 6/27/2008
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