Posted by LAA on July 21, 2014 at 19:45:00 from (86.51.147.113):
In Reply to: Oil and gas lease posted by rrlund on July 21, 2014 at 13:19:37:
It is basically free money wanting a home. O/G leases are simple contracts by and large, I would think the only difference from state to state was based on local and state law, if a successful well is drilled within the section that your land lies in you will receive some royalties regardless if you leased or not but you will get more if you are leased and there is always the chance they would drill directly on your land. The only time I ever worry about an O/G lease is when they don't renew, which has happened in my part of the country since the natural gas boom/glut.
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