Leasing mineral rights will entitle you to gas royalties besides signing bonus. However, first of all, it’s worthwhile hiring the services of a geologist who would assess the potential of your property. You would then be in a better position for negotiations later on. The next thing to do is to acquire the consultancy of a good lawyer conversant in local oil and gas laws.
He will be your adviser during the drawing up of the lease agreement and till the finalization of all legal processes dealing with the sale of the mineral rights and your acquisition of oil and gas royalties. The term of lease and the quantum of the royalty are both negotiable though some states have fixed the value of the minimum oil and gas royalties.
He will be your adviser during the drawing up of the lease agreement and till the finalization of all legal processes dealing with the sale of the mineral rights and your acquisition of oil and gas royalties. The term of lease and the quantum of the royalty are both negotiable though some states have fixed the value of the minimum oil and gas royalties.
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