rrlund- sounds like you are in the same boat I was in two months ago. For years, strangers kept knocking on my door wanting to lease my oil/gas rights. Since I always answer my door with shotgun in hand they seemed quite perplexed. I informed them to leave my property. Then I started having neighbors showing up with the speculators trying to get me to lease. The neighbors were only looking for 'Bird dog' fees.
One day, the owner/drilling rig showed up. He showed me the half page contract for a one year lease. I read it, signed it, got the check and cashed it.
My neighbors thought they were getting a better deal by signing a contract for less money and less percentage of royalty. But, they signed for 5 or 10 year lease.
The way I see it is...Each neighbor signed with a different operator. My contract says the lease can't be sold(it is only a one year lease). I'm square dab in the middle of a few thousand acres of pretty good land.
So, if anyone wants to drill, the neighbors have signed off for 5 to 10 year leases, while I retain the right to renegotiate the prices after my one year lease is up.
So, my guess is...there won't be any drilling around here.
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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