By John Peyton
Have you been contacted recently to lease your land for oil and gas drilling? With the price of oil and gas continuing to rise, leasing is happening in places throughout the country and the world. Companies are paying upwards of $500 per acre to lease land for drilling purposes, but if you have been contacted there are a few things you need to understand.
When you are negotiating the lease, there are two main concerns you should have from the beginning. The first concern is how much money you are going to be paid an acre (bonus) and the second concern is how much interest you will have in the oil and gas well (royalty). These two items will be stipulated from the beginning and it is important that you understand exactly what each of these will be. Also, don't sign as soon as you are contacted. Talk to your neighbors or to an attorney to make sure you are getting the best deal possible.
If you aren't prepared and don't know what you are doing, here is a couple of things that could happen.
A landowner leases their land and one well is kept on the section tying up the landowners land virtually forever. Don't let this happen to you.
A landowner has a well placed on his land without any knowledge this was going to happen. The site is operational 24 hours a day interrupting many facets of his life. Don't let this happen to you.
A landowner sells the royalty interest in a well for only $100. The landowner should be getting a check for over $1000 per month but was swindled out of this royalty. Could this happen to you?
A landowner is only allowed to lease her land once when she could have done it several times because wells were drilled at different depths. Couldn't you use an extra $500 per acre of land you own?
The scenarios above aren't meant to scare you, but you need to understand the process. For more information about how to negotiate an oil and gas lease, please visit:
www.LeasingLandToday.com
Sincerely,
John Peyton
Article Source: http://EzineArticles.com/?expert=John_Peyton
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