Thank you guys,
I am in Arizona trying to keep my folks updated. They live in Natchitoches Parish and recently leased this land in Sabine. The tax statement says section 24-10-11. I don't know which is the township and range.
My 87 year old aunt is we believe the only unleased mineral owner in Section 10-8N-11W. A well is being drilled in the section but not on her tract. If you would, please tell us what kind of lease your parents negotiated e.g. general terms, royalty, bonus, term, surface use, environmental matters, pugh clause, etc. Did they sign a "form" lease presented by landman or add an addedum? Did they consult an attorney?
Good Morning,
This is what I know of the lease. I haven't seen it and wish I could have been there for the signing.
They signed a three year lease for $5500/acre at 25 percent royalty. The automatic renewal clause was removed (pugh?). They did not consult an attorney (even though I encouraged this). I believe this was presented by a landman as a form lease but they made some alterations prior to signing.
Sorry I don't know more.
Thank you Dennis. Who is lessee -- Chesapeake, Shell Encana, Petrohawk, Audobon, etc. I believe it is Shell Encana sponsoring drilling near my aunt's tract.