As I understand the new regulations, the BEST lease terms signed associated with said parcel, is to be applied to leases that cannot be signed, either by inability to find the owner(s) or unable to come to an agreement.
For the sake of argument, if I own 40% interest, my sister Nancy owns 40% and you own 20%... If I leased at 12.5 percent royalty and Nancy negotiated a better deal, giving her 18% royalty, the production company would be required to pay you the same 18% as Nancy, I would be left in the cold for not being able to negotiate a better deal.
Thanks! Do you know if this applies to bonuses too?