Started By
Message

re: Just bought 40 acres

Posted on 10/30/13 at 6:35 pm to
Posted by LSUGUMBO
Shreveport, LA
Member since Sep 2005
8585 posts
Posted on 10/30/13 at 6:35 pm to
They aren't just going to waltz on to your property and build a rig in your back yard (contrary to popular belief), but you definitely lose a lot of bargaining power if you don't hold the mineral rights. Work with the mineral owner to get a no drill within XXX feet ( start with something like 750- they probably won't go for it, but I'm sure they can work something out. 500 feet is not all that uncommon.

I don't necessarily recommend a lawyer unles you're a) going to work out a surface agreement now or b) going to try and get the sale rescinded because you think the previous owner didn't disclose the possibility of a lease (which may or may not be a valid excuse.

At this point, I'd wait and see what happens- it may end up being all for nothing if they don't drill or don't find anything. And even if they drill, it's not a certainty that your 40 acres will be disturbed.
first pageprev pagePage 1 of 1Next pagelast page
refresh

Back to top
logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram