Will I earn money if I lease my land to oil / gas company that wants to drill a well?
Will I earn money if I lease my land to oil / gas company that wants to drill a well…even though I dont have the mineral rights?
They have offered money for leasing land, for damages to land, and offer 25% royalties. I didnt think you could get paid royalties if you didnt own mineral rights……thoughts??
So…if the offer to me is 25%….then I would earn money off production, and the owner of the mineral rights would earn money too? If so…they would negotiate their own agreement…right?
February 5th, 2010 at 12:58 pm
Have an attorney review an lease prior to your signing it to make sure there are no "weasel" clauses to avoid paying you the lease payment, damages and royalities.
What they offer verbally, may be totally different from what they present you in writing.
February 5th, 2010 at 12:58 pm
yes.
February 5th, 2010 at 12:58 pm
Of Course man in the agreement you make sure you tell them you want royalties usually of 5% -10% of whats being produced out of it.
February 5th, 2010 at 12:58 pm
If you have enough oil or gas you can become very wealthy if you hire a legal firm to make the deal and write the proper contracts I recently met some people in West Virginia several households of pepole who own beautiful 500-600 acre farms with homes that are nearly mansions. I was shocked to learn that for generations the only people in these familys who worked outside their farms did so just because they wanted a college education or a passtime.
February 5th, 2010 at 12:58 pm
yeah probably will make some money for a lil while but think about it…. the flumes will make it so you cant live there then the gov will own it, you may lose your land make a little money and then dont own it, or they may lease it like they say but i cant imagine they will allow you to live there for long..not into real estate although i do read alot about it this is just my take on look into properties they already have and things like that..then again you could be on a goold mine