Paid Up Oil, Gas and Mineral Lease

I am very new to this. Someone with expertise as Mr. Peel, etc. would would be very much appreciated for some advice or information. Is this lease agreement N0. 12-07497 somewhat a standard lease. It states, After Recording, please return to: T.S. Dudley Land Company, Inc., 5925 North Robinson Avenue, Oklahoma City, OK 73118-0000. Southwestern Energy Production Company (SWN), Houston, TX as Lessee, Houston, TX. The Land Man (Broker) is RB Petroleum, LTD, Lafayette, LA.  Ref. Oil, Gas and Mineral Lease, Brown Dense, Union Parish, Louisiana, Section 28-22N-1E. 

From what I can comprehend, you will suggest an OG&M Attorney to look things over. Is there a such ting as a standard form 12-07497? Thank you very much, Joe

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Replies to This Discussion

Permalink Reply by Joe Frederick Bilberry on August 26, 2012 at 13:35

LOL, sorry for getting back so late. I'm sure that he mentioned to my sibling that time is running out to get the leases signed and in the system prior to budget cuts, etc.

Permalink Reply by Lerret on January 9, 2013 at 8:55

All leases are contracts. All terms are subject to agreement. The worst one you will encounter is lumped under the general heading of "Post Production Expenses".  I am seeing depleting wells where those expenses will eat more than half of your check.  Accept a lower royalty if you must but eliminate all such post production expenses, including compression , transportation, marketing and treatment.  It will eat you up in a low producing well and shale wells typically will start producing at limited quantities within 18 - 24 months.  I've seen a lot of check stubs where post production expenses were 50% of the check or more

Permalink Reply by robert edwards on January 20, 2013 at 17:23

i have seen the same.  old gas wells, 50 years and older, are not going to bring you the market rate in your pocket.

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