oil, gas and mineral lease question

Answer 1

paragraph 1 contains normal contract lingo and all is normal. It does not mean that they are going to only pay you $10 like it sounds, most all deeds, leases and other contracts contain the exact same wordage and is just legal terms.

20% to 25% is the going rate, so 22 is average. You didn't mention the bonus amount for me to coment on but try to get them down to 3 year lease or a 3-2 which is a 3 year primary with a 2 year option.

I am a buyer of mineral rights in North Dakota, Oklahoma, Colorado, Wyoming and other states.

Tim Metz

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