Re: OT - Gas Oil leases (long post)

Posted by Hurryin_Hoosier on March 21, 2006 at 19:19:05 from (4.224.78.232):

In Reply to: Re: OT - Gas Oil leases (long post) posted by kyhayman on March 21, 2006 at 18:55:43:

This lease is $10 for the first 5 yrs, then $10/acre for the next 5 yrs. Payout on producing wells is 1/8 of the net amt or market value at the wellhead to the unit of property. You then get a percentage of that based on your percentage of the acreage in the unit. Damages of $500 on the property where a wellhead, access road and pipeline are located. $2 per rod for for pipeline. Property to returned "as close as practicable" to orginal state. Wellheads must be at least 200' feet from any home or barn.

That and a whole lot of other legalese.

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