Representing mineral owners in negotiating oil and gas leases requires a wildcatter's knowledge, the savvy of a rancher and the patience of Job, writes Peter E. Hosey. A landowner normally receives an offer from a potential oil and gas lessee specifying the bonus and other basic terms, accompanied by a proposed form of lease. Counsel should negotiate those basic terms and the form of the lease, not just accept them as is.
November 14, 2011 at 12:00 AM
1 minute read
Representing mineral owners in negotiating oil and gas leases requires a wildcatter’s knowledge, the savvy of a rancher and the patience of Job.
A landowner normally receives an offer from a potential oil and gas lessee specifying the bonus and other basic terms, accompanied by a proposed form of lease. Counsel should negotiate those basic terms and the form of the lease, not just accept them as is.
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