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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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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