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Jul 27th, 2008, 07:03 PM
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#1 |
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Mineral Rights
I have a small farm in central Texas (Falls County) and own the surface rights outright, but only own 50% of the mineral rights. I have been recently approached by a landman offering less than $100/acre for a 3 year lease + 1/6 royalties. I really don't want my land messed up more than anything else, unless we're talking really big money (which doesn't seem to be the case here). Here's my specific question: what exactly can the oil company do on my property without my consent if they secure the consent of the owner of the other 50% of the mineral rights? They've offered a "no drill" clause, but I'm reluctant to even let them drive their trucks through my orchard. Thanks for your advice!
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Jul 27th, 2008, 08:08 PM
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#2 |
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Re: Mineral Rights
contact an attorney, once you let these guys on it's the devil to get them off. It kinda sounds like Horizontal drilling to me.
3yrs @ 1/6th aint much. |
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