Posted by Steve@Advance on July 21, 2014 at 15:13:52 from (108.245.66.82):
In Reply to: Oil and gas lease posted by rrlund on July 21, 2014 at 13:19:37:
Don't do it.
Hold out until you're contacted by the actual oil company doing the drilling. They will not offer a "lump sum" settlement. It will be a lease amount plus a percentage of what they retrieve from under your land.
And then don't take their first offer. Talk to your neighbors. Don't let them bully you with "You're the last holdout, all your neighbors are mad at you for not signing. You're holding their money up!" That's a lie, work with your neighbors to get the best possible deal. It may take a while, just be patient and persistent.
If they offer to do surface work, like a test well or pump station, and you can still operate around it, DO IT! Big bucks for a little piece of land!
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