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 - What Oil Should I Use? - by Francis Robinson. I keep seein this question pop up over and over again in discussion groups all over the web. As with many things there are often several right answers and a few wrong ones. Some purist I'm sure will disagree to no end with what I will tell you but most of us out here in the real world don't really care do we ? Some of them only bring their noses down out of the air long enough to look down them anyway. If you are like me you are only doing this old tractor stuff because you enjoy it. You
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