Anyone know anything about oil and gas leasing? there are people trying to lease my..

[Barnes]

Depending on how many proven wells are around you, the price per surface acre may or may not matter. If you know it will make a well, the surface price shouldn't be that big of a consideration and you should go for the best mineral deal. If you are unsure on whether it will make a well or not, go for the better surface price - that way you at least get something if it gets P&A'd. Believe me, if the well turns out to be good, even if you are getting less then a quarter of 15% it will still add up.

If the oil companies think there is oil under there, they are not going to give up. The one thing that could hurt you is if wells are drilled around your land before you sign and they turn out to be dry. Is there alot of drilling in your area? How have the wells been producing? If you don't know, ask around.

Ohh, and if they do start drilling on your land, bring pizza out to the service hands....we really like it when a soon to be millionaire spends a few bucks on us!

 

[Blu Du]

tell the fawkers you are getting your own rig.

 

[hilinerider]

if your neighbors get together and get the area unitized then if the hole they drill on yours goes south and the one on the neighbors is stellar you will still get a check, if you get 15% of a 200bbl /day well you are sittin good, watch out for the net deal, oil companies can screw with you on the net deal by claimiing all kinds of costs associated with production to where you get 15% of what they claim is $50 of profit,

 

[Gimpster]

Went through the same deal, end of last year.
Get ready to pay attorney fees. I also had a probate done on our area and found more rights than they thought I had. My wife saved us a lot of money by researching what we needed to get started, on it, at the county seat. Our attorney went deeper. Cost was like $1800 for that alone. From angle drilling there is 3 wells aimed under my rights. Claims is that there will be one well on each quarter of land by time they are done in our area. That is only into the first upper pool. There is 2 pools under our land. Royalties from the oil should start rolling in around 6 to 8 months after a well is drilled. A gas plant was put in the county. The beauty of this is that any gas taken from the wells is said to cover taxes on the oil taken.
Beware though, even after you sign with a company for lease, other companies will make you huge offers to buy out the lease you signed. Do not go for this deal. Normally the origional lease company will be the one doing the drilling. In cases of "claim jumping" by other companies, selling out the origional may lead you to getting cut out of the whole oil scene. They do not take kindly to greed and will pull the plug in short order.
From what has went down in our lives, it has changed us. I quit my job as a top national Honda Motorcycle tech, to owning my own power sports dealership.
Your life will change

----- Gimpster -----

 

[GODEEP]

thx. guys. Im dealing with natural gas for the most part, but their leases say oil and gas. all i know is the offers keep going up. How long is to long to hold off and at what point am I being greedy?

 

[Turd Ferguson]

thx. guys. Im dealing with natural gas for the most part, but their leases say oil and gas. all i know is the offers keep going up. How long is to long to hold off and at what point am I being greedy?

How much every month do you need to enjoy the things you love?

 

[HawkShot99]

How long is to long to hold off and at what point am I being greedy?

You are not greedy till the day after the offers end. If they want to offer more and more, thats great for you.