Questions for Skip Peel and Les B.
Skip,
I have followed your posts through this website since I have land in Caddo Parrish. I am hoping you can give me some advice. I also have land in Walker County located in southeast Texas. I was contacted by a landman yesterday wanting to lease my property there for $50 acre and 1/6 royalty on a 3 year lease with a 2 year option. Obviously, this is not anything like what is being offered by oil companies in Louisiana, but my dad leased this property 20 years ago for $100 so I am thinking $50 is not appropriate. Today the same landman came back and offered no bonus on a one year lease with 1/5 royalty. I know you are probably not familiar with the area, but can you give me any advice.
Thanks!
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Replies to This Discussion
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Permalink Reply by Mary Wood on
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I am going to find a O&G lawyer close to Huntsville so he/she may be familiar with what is going on in the area. I spoke with a LA atty today who is helping with another matter and he agreed I should try to find a knowledgable one in Texas that would be familiar with Texas law. He suggested many of the lease provisions that have been discussed here earlier in the blog. He told me I should be charged an hourly rate. I think it will be well worth the money.
Thanks! -
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