I received a letter from a landman representing BOP interested in discussing a lease on my land (60 acres in Fairview township).
I was in a lease with Chevron until last year when they decided not to renew the lease.
Has anyone had a lease with Edgemarc or dealings with BOP? Are the good to deal with and does anyone know what they are currently offering in the area for the per acre bonus and royalty?
Haven't heard anything in Cherry
We met with them. Seem very inflexible. Only act in town. Amount one would receive as a royalty is really not known as the 14 percent is a "net" amount subject to post production costs. These costs are also non negotiable.
There is very little in a lease that is "non-negotiable". That just means that they don't want to negotiate. Post production costs are indeed negotiable. You may not be able to eliminate them but you can get them capped. It's often called "minimum royalty" and it puts a floor on the royalty you receive. If your attorney doesn't understand both that and about half a dozen other ways to negotiate a lease then he/she is an amateur playing a professional's game and you need a different attorney.
Well said Joe. I guess I should have stated they at present are not willing to negotiate. We are working to put a group together to act with a stronger voice.
I'm really curious who all is bidding on Rex's land