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Permalink Reply by Elnathan Cory on November 9, 2010 at 3:47am

What was the offer and name of the company? I am in Mercer County and am looking for offers.

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Permalink Reply by Frank Walker on November 9, 2010 at 4:40am

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Robert

You should not sign this or any lease until you speak with a good O&G lawyer. Leasing of your land is a much bigger deal than merely selling it. You must engage a lawyer and, what's even tougher, you must engage the right lawyer. You need a person skilled and highly experienced in the world of oil and gas leasing.

If you ignore this counsel, you place at risk not just yourself; you place at risk your kids and future generations of your family. Leasing your land for drilling is a big deal It is a really big deal. There are hundreds of ways you can go astray if you go it alone, or if you engage the wrong lawyer.

Your lawyer will be able to include lease terms to protect you and enforce safe drilling practices. Your lawyer also will have a feel for fair leasing rates where you live.

Good luck. You will need it.

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Permalink Reply by Robert J Ellis on November 9, 2010 at 4:58am

Thanks for the feedback.

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Permalink Reply by chris on November 9, 2010 at 6:35am

Robert,

I am in a similiar situtation. I know that on the world market leases have been purchased for up to $1500 per acre. I have used that as a barometer. I know that in Texas and Lousiana, leases have been signed in excess of $12000 per acre. These had been five year leases. If you have the right language in the leases you can renegotiate after your five years expire for more/less monies up front and a higher % of royalties.

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