P>Oil and Gas Reviews
Typical Considerations.
1. Check the lease carefully. Who is signing
the lease? A landman or the company.
2. Use the Texas Railroad Commission site
to check out the operator.
3. What are the terms?
a. bonus payment
b. primary term
c. royalty fraction
d. delay rental
e. shut-in royalty
4. Other terms:
a. option to extend the lease term
b. commitment to drill or pay a liquidated
damage
c. promise to pool
d. increase in royalty after well pays out
e. minimum annual royalty
5. What form will the lease be? There are
standard industry leases which cover many
concerns.
6. Use a complete legal description without
clauses that include other tracts not mentioned.
7. Limit the lease to Oil and Gas. Do not
include other minerals.
8. Be careful as to what your compensation
is measured on. Before all costs.
A mineral lease should be reviewed to determine
the long-term affect it will have on your
surface property as well. Be sure to contract
for what you want to avoid surprises and
disappointments
Contact Us
Call Kendall Laughlin at 214-215-5343 to schedule a complimentary consultation.
Kendall Laughlin, Attorney
PO Box 600355
Dallas TX 75360
Direct Line: 214-215-5343 Fax: 214-276-1678
Email: KAL@texasleaseattorney.com
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Kendall Laughlin, Attorney serves clients
in the Dallas and Fort Worth (DFW) metroplex,
including the cities of Dallas, Allen, Arlington,
Bedford, Carrollton, Cedar Hill, Denton,
DeSoto, Duncanville, Euless, Farmers Branch,
Flower Mound, Fort Worth, Frisco, Garland,
Grand Prairie, Grapevine, Greenville, Haltom
City, Hurst, Irving, Lewisville, McKinney,
Mesquite, North Dallas, Plano, Richardson,
Rowlett, Sherman, The Colony, and the following
counties: Collin County, Dallas County, Denton
County, Grayson County, Hunt County, and
Tarrant County>.
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