Divison orders Attorney?

Looking for feedback on what I should expect on attorney rates  for review of

divison orders? Finally came! Just wanted to be educated on rates before I call. I had one attorney for my gas lease and a diff one for my rightaway. Not for sure If i want to use either one again, so I am checking around. I will go as far as columbus ohio If i must. I want someone experienced and not charging me hundreds of dollars to do this. I also want to set up a llc or some kind of trust account. I am in woods field ohio area. Monroe county.

thanks

Views: 645

▶ Reply to This

Replies to This Discussion

1s7k1qp9wk1t7Permalink Reply by 1s7k1qp9wk1t7 on September 16, 2015 at 1:52am

You get what you pay for.....you want someone with a quarter million dollar education to work for less than "hundreds"?.....stack their fees against what you'll be receiving over the lifetime of your lease and don't be a fool

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on September 16, 2015 at 9:00am

Save your money. If there is no suspicious addendum attached, all you have to verify is your ownership number.

As you have seen on this website, use the formula:   Your Acres In the Unit Divided By the Total Acres in the Unit multiplied by your royalty using a decimal fraction.

Assume you own 50 acres in a 550 acre unit and your royalty amount is 12% on your lease.

50 acres / 550 acres X .12 =  Your decimal fraction or ownership amount.

0.090909 X .12 = 0.010909 Your ownership portion of the Unit.

The problems don't start until you get your royalty checks. Make sure you are sitting down and remember your first check will be for 4 to 5 months of production. The amount gets smaller after that. At Buck Well 1H we got $56 a month per acre for the first 2 months and a little more for the following 2 months. For most landowners it's obvious they are being short changed.

Permalink Reply by darren l on September 16, 2015 at 1:54pm

It cost me about $900 to get a new division order wrote up and approved by oil company. They were trying to change the original lease so be careful. The division can drastically change things.I paid $300 per hour to lawyer to do this.Just so happens to be same one who drew up the original lease for me and thousands of other people.

Permalink Reply by Tim Tarr on September 16, 2015 at 6:54pm
Wow, if the division order changes the lease I would not trust anything that operator does.
Including royality payments!!!
Permalink Reply by Gringo on September 17, 2015 at 12:06pm

Do the math and save your money. Send the W-9. I have never returned a division order because of the garbage language and have always received royalties. You can get one from NARO if you feel compelled.

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service