Mineral Rights

[OK215]

A company wants to lease mineral rights for land that I inherited. They have given a price of $400.00 per acre for 3 years with the option of an additional 2 years at $300.per acre. I know nothing about leasing mineral rights. The company probablly has discovered something. Is this the going price for leasing? If I don't lease is there such a thing as slant drilling and can that be done without my knowledg? Should I contact my lawyer because I am totally in the dark about this situation.

[seniorjudge]

Q: A company wants to lease mineral rights for land that I inherited. They have given a price of $400.00 per acre for 3 years with the option of an additional 2 years at $300.per acre. I know nothing about leasing mineral rights. The company probablly has discovered something. Is this the going price for leasing?

A: How much were you getting before? Zero dollars?



Q: If I don't lease is there such a thing as slant drilling and can that be done without my knowledg?

A: They are not allowed to steal minerals.


Q: Should I contact my lawyer because I am totally in the dark about this situation.

A: Yes, if it will help you make the decision.