If you do lease, do not give them the automatic renewal at their option. If you do and there is any production close to you within the first 5 years, they will renew you without blinking, and if there is not, they will not renew. However, if there is production near you and they do not have the automatic renewal, your next lease, which I would recommend negotiating with them at that time for a 3 year lease, with a much better rate. Your goal should be production and royalties if at all possible, limit the time they can lock up your property, it will increase the odds of your property being produced if there is oil and gas there.
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Today's Featured Article - Talk of the Town: How to Crank Start a Tractor - by Staff. This interestin discussion is from the Tractor Talk Discussion Forum. Remember that safety is your first priority - make sure you know what you are doing before attempting a potentially dangerous activity!
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