New to Shale and have a few questions
Hello,
Not sure if I'm in right place for this. Please correct me if I'm wrong.
1. We own 2 acres in Doyline and thought we didn't have mineral rights. Now we have been notified that the rights have reverted back to us and Pethawk is asking us to sign a 3 yr lease for 3000/acre with 25% royalties.
The original letter describes our area as Haynesville Zone, Reservoir A, in the Elm Grove field, INSOFAR AS HA RA SU89. They have been laying down pipe lina all around us and are planning on putting in a new well in our neighbors 20 acres soon.
Is this a good lease and what else should I check on?
Pattie
Not sure if I'm in right place for this. Please correct me if I'm wrong.
1. We own 2 acres in Doyline and thought we didn't have mineral rights. Now we have been notified that the rights have reverted back to us and Pethawk is asking us to sign a 3 yr lease for 3000/acre with 25% royalties.
The original letter describes our area as Haynesville Zone, Reservoir A, in the Elm Grove field, INSOFAR AS HA RA SU89. They have been laying down pipe lina all around us and are planning on putting in a new well in our neighbors 20 acres soon.
Is this a good lease and what else should I check on?
Pattie
Views: 81
Replies to This Discussion
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Permalink Reply by Major Bonnie on
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P.S. Whatever you decide, please do not sign anything without an attorney reviewing your lease--please do not hurry or feel pressured. I certainly would suggest you do more research.
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