landowner

Ratify a Lease?

When I ratify a lease, can I negotiate the royalty rate?

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Oil & Gas ProPermalink Reply by The_Baron on December 12, 2011 at 10:54

oil and gas.

Permalink Reply by barneyfife on December 16, 2011 at 5:22

If the usufruct owner died and the naked owners had not signed a lease, then the interest is unleased. You can negotiate a better deal. If there is a producing well, I would start asking for a 50% royalty.


Oil & Gas ProPermalink Reply by Two Dogs, Pirate on December 16, 2011 at 15:13

They would probably let you go unleased. Any mineral owner can ask for a 50% royalty, how many do you know got that. If the well has produced enought to pay for itself they make a better deal.


landownerPermalink Reply by P.G. on December 17, 2011 at 7:39

If a lease expired in such a situation...and the well was already paid for..how would that effect the money the now newly unleased owner would receive?


Oil & Gas ProPermalink Reply by Two Dogs, Pirate on December 17, 2011 at 11:22

It would depend on who the operator is. They would be the same as any other UMI and you know how that goes.


landownerPermalink Reply by P.G. on December 17, 2011 at 12:14

Bet it would open a can of legal worms...I mean the acreage "was" leased..and then it wasn't...

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