thedogman New Orleans Saints Fan Member since Dec 2008 1550 posts
re: O&G Landman knocking on my door for 'lease'(Posted by thedogman on 1/16/13 at 5:40 pm to lnomm34)
He isn't trying to buy your minerals he is trying to lease them. For probably 3 years and 25% Royalty. If they don't drill your section in the primary term then 100% of the minerals will return to you. If they do drill a well in your section you and your neighbors will receive royalty money. When a collective group of you and your neighbors receive royalty your community will benefit from this injection of cash. Oil and Gas companies aren't doing this to make peanuts or break even. If you like I will look over the lease for you. You can email me at email@example.com and I will walk you through the lease and answer any questions I can for you. Whenever I come across mineral owners that say it isn't worth their time for that amount I suggest they sign the lease and then assign me the money $150 extra is good enough for a tank and a half of gas trip to the grocery store or buy something for myself for no other reason than besides someone walked up to my door and gave me $150. Most people don't sign because they don't know how it works. Take a little time and look at it or have someone look at it before you dismiss it.