Originally posted by Sidro
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Oil and gas lease in ward county
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Originally posted by Txhuntr2 View PostHave an Oil and Gas Attorney draft a title opinion on the tract. It will verify your ownership interest as well as all encumbrances including current and past leases. It wont be cheap but it will let you know what you got.
OP, I do this for a living, if you have any questions feel free to PM me.
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Originally posted by The Crippler View PostActually, anyone that wants to lease it will have already performed a title search and will have a pretty good idea what is owned and will base their bonus offer off of the mineral acreage owned. If leased, the operator will have an attorney render a title opinion. Just make sure there is a clause in the lease that Lessor has the right to all title opinions and that if ownership comes back greater than bonus was paid on, Lessee must pay the additional bonus, but if ownership comes back less, Lessor has no obligation to reimburse.
OP, I do this for a living, if you have any questions feel free to PM me.
There are also plenty of people here who are not educated on such matters, but think they are.
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PM sent.
Regardless of what other folks are saying, there are people here who can help ya out & know what their talking about.
I've been a landman a long time and have worked all over the South. The first 6 years of my career working directly for an oil & gas attorney writing title opinions, several years in the field, and the last 6+ as a project manager for an o&g land brokerage. So, needless to say, I have the experience to know what I'm talking about and always willing to help out a fellow TBH'er. If you have any questions, fire away.
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Originally posted by The Crippler View PostActually, anyone that wants to lease it will have already performed a title search and will have a pretty good idea what is owned and will base their bonus offer off of the mineral acreage owned. If leased, the operator will have an attorney render a title opinion. Just make sure there is a clause in the lease that Lessor has the right to all title opinions and that if ownership comes back greater than bonus was paid on, Lessee must pay the additional bonus, but if ownership comes back less, Lessor has no obligation to reimburse.
OP, I do this for a living, if you have any questions feel free to PM me.
I used to draft oil and gas title opinions for a living too.
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Originally posted by Txhuntr2 View PostYou're right! But if it were me, I would still want title examined on my behalf by a trusted attorney if I thought the interest I acquired was significant. There are a lot of opportunistic Oil and Gas Title Attorneys working for E&P companies during boom times. All with varying levels of experience.
I used to draft oil and gas title opinions for a living too.
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Originally posted by Aggiehunter08 View PostI don't see any reason for a mineral owner to hire an attorney to conduct a mineral ownership report that a land broker could do for you cheaper and just as good. OP hopefully your acreage is located in western Ward and not eastern. I'd be willing to looking into it for you at no cost. Best of luck
That said, I have no dog in this fight. I am not looking for business from the OP. I haven't practiced title examination in years. But as a practicing, licensed Texas attorney, my advice to the OP is to seek legal counsel.
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Originally posted by Aggiehunter08 View PostI don't see any reason for a mineral owner to hire an attorney to conduct a mineral ownership report that a land broker could do for you cheaper and just as good.
I just finished leasing a family that lived out of state that owns minerals in Ward County, and some members received rather large bonus checks (well into the 5 figures).
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Originally posted by Aggiehunter08 View PostI don't see any reason for a mineral owner to hire an attorney to conduct a mineral ownership report that a land broker could do for you cheaper and just as good. OP hopefully your acreage is located in western Ward and not eastern. I'd be willing to looking into it for you at no cost. Best of luck
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