Replies to This Discussion

Permalink Reply by Joe P on June 5, 2013 at 13:23

Hi Ken

What Section are you referring to? I'm assuming that is the Township-Range.

Permalink Reply by Joe P on June 5, 2013 at 15:04

Check out the Main Discussion Board for North Caddo. They were several posts about 19N 15W and lease offers. Some in 18N 15W also, not sure of the sections.

Permalink Reply by KEN A on June 6, 2013 at 3:45

THANKS, I WILL GET ON THAT SITE AND RESPOND, IT IS SEC 17 18N 15W.

Permalink Reply by Skip Peel - Mineral Consultant on June 6, 2013 at 3:48

Ken, unless your mineral acres are small, I suggest that you seek the help of an experienced O&G attorney.

Permalink Reply by KEN A on June 6, 2013 at 4:27

THANKS

Permalink Reply by KEN A on June 6, 2013 at 4:27

TO UPDATE THIS I AM IN SEC 17 18N 15W AND OFFER FROM AX AT 500 ACRE AND 22.5 ROYALTY. I DONT LIKE THE PUGH CLAUSES OR ROYALTY CLAUSE, ANY ONE HEARD ANYTHING ELSE?

Permalink Reply by Skip Peel - Mineral Consultant on June 6, 2013 at 4:33

$500/nine-fortieths is their standard offer.  Unless you have many hundreds of acres there's no chance of getting a better one.  As to the Pugh clause (you don't mention whether it is a vertical or horizontal Pugh) and the No Cost Royalty clause that is where the focus should be.  The royalty clause is especially tricky and that's why every mineral owner with a significant interest should engage the services of an experienced O&G attorney.

Permalink Reply by lee on June 6, 2013 at 5:06

Skip - why don't you just give us a royalty clause and pugh clause we can use instead of finishing up your posts with "engage the services of an experienced O & G attorney" or "seek an experienced O & G attorney"

Permalink Reply by Skip Peel - Mineral Consultant on June 6, 2013 at 5:15

lee, first because I am a landman, not an attorney.  I am not licensed nor qualified to practice O&G law.  I have an experienced O&G attorney/firm and I use them regularly.  Second, the specific language required to accomplish the purpose of a No Cost Royalty clause changes over time as courts hand down rulings and new precedents are set. What worked last month may not be adequate today.  Lastly, as a landman who works for mineral owners I am aware of numerous instances where legal counsel was not retained and the mineral owner was negatively impacted.  Executing an O&G lease is not a one size fits all proposition.  Specifics often make a difference and in some cases make quite a significant difference.

Permalink Reply by Joe P on June 6, 2013 at 7:25

Right choice is to get a lawyer .. I use them all the time because I'm NOT a lawyer ..

Skip ,, have you heard of any activity in Marion County near Monterey Lake (Towards Vivian) ,, I've heard of some near Smithland and Gray ,, but nothing further east ,, I've got nearly 300 ac. of minerals & just curious .. Thanx

Permalink Reply by Skip Peel - Mineral Consultant on June 6, 2013 at 8:16

Joe, no I haven't heard of any recent activity in that area at least on the LA side of the line.  And I haven't heard anything in a while from the members of the Marion County Group.