Has anyone received any offers to drill for natural gas/minerals? We received an offer to drill on 80 acres with a bonus of $1500/acre and 25% royalty for three years. We currently receive royalty payments from other wells drilled on contiguous land that we own next to the 80 acres. So there are producing wells in the area, but we have not signed any new leases in 8 years and the terms back then were much lower.
Any info would be much appreciated.
For your acreage and general location, the lease terms are good. Of course, the devil is in the details beyond the bonus and royalty. Get a copy of the lease and have an experienced O&G attorney review it and draft an Exhibit A or changes to one if it is included with the lease, Good luck.
Thank you Skip. Do you have any recommendations for O&G attorneys in Louisiana?
We have a lease that we thought needed guidance from an attorney and used Lake Hearne in Shreveport, La. He was great.
Me too, Farmer. I highly recommend Lake Hearne @ Davidson, Summers APLC in Shreveport.