Has anyone run into a situation where Rice recorded their lease before paying bonus payment?
Good point. In my lease they define Oil and natural gas, but don't talk about NGL. Will have them fix it. Thank you. I asked for higher royalty on Oil, but at this point may not make a differences since there is no oil or NGL in Union Township Washington County.
Had a landman ask if he could add my acreage to a package of about 1000 acres already being considered in Washington Co. I told him that I would consider that, but what would be the benefit?
I think he is looking to "broker" the package to an active driller in the area. Does THAT make sense?? And why is this a question of trustworthiness? I know he represents the gas & oil company, and I have already been leased five years ago and know the "drill" pretty well.
I haven't yet heard from this landman & had already requested to look over this group lease. So...maybe that does tell me something right there. But another question...Could it be that since it is the end of the year, that they don't have much to play with financially?? I'm thinking that may be why I haven't heard anything...well, that and also because my lease doesn't expire until midnight today.
Oh...and I already have a copy of one of their leases--because in January, he wanted to top lease me, but the lease gave first right of refusal to the current Lessee, and he didn't want to get into a bidding war with them at that time. But so far? No "group" lease... I don't think I'll be going that route anyway... but I'd like to look it over anyway.
Not all Landmen represent operators some are independent and put together prospects to shop around.