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Permalink Reply by Mac Davis on February 2, 2011 at 12:46

Are you in Louisiana?  If so, 

 

You are not responsible for the cost of a dry well.  If the well produces, the cost of the well is deducted before you get any payments for minerals. 

 

Some people will lie and tell you they will deduct 200% or more of the cost of the well before paying you.  This does not apply to people who simply did not sign a lease.  It applies to people who made other kinds of agreements.

 

Lots of people believe that the driller will cheat you on costs if you are unleased.  This is probably true to some extent.  However, lots of people believe they'll cheat you if you ARE leased.

 

I can't tell you for sure about the rules in other states.

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Permalink Reply by Herman (Chuck) Plonnigs, III on February 2, 2011 at 14:00

Mac Davis...Huuuuuuuugh,

 

I simply have issues signing a 4/3 lease!!

 

Thanks so much for your response...I do live in Louisiana...my land is in Union Parish.

 

Many Thanks again!!!

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