I have contacted some companies about purchasing my royalty interest in one specific well - not the minerals or subsequent wells. What pitfalls should I be aware of? Thanks.
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Just be sure the deed is clear.
Make sure it refrences the well by name and serial # to avoid any confusion. specifically exclude any future wells, including any alternate unit wells. You may want to specify a term, maybe stating that all rights revert should the well ever be P&A. You never know the well could be rentered twenty years after the P&A.
Make sure that the amount of royalty is clear... if you don't understand it ask. If your interest is large enough to justify the cost, get a lawyer
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