Mineral lease
- snoopdog
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Mineral lease
Would you buy property that the lease didn't convey? Looking at a tract, never had to deal with this. If it does convey, what are the pros and cons?
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- backhoeboogie
- smithy
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Re: Mineral lease
Laws are different state to state.
I've got land both ways in Texas. Price is everything.
Water truck drivers toss trash along your fences all day long. When they turn off the main road, they start tossing out the window.
They wanted to put cattle guards in my lanes. Big fights. I move cattle thru the lanes.
Lots of income but big pain in the backside.
I've got land both ways in Texas. Price is everything.
Water truck drivers toss trash along your fences all day long. When they turn off the main road, they start tossing out the window.
They wanted to put cattle guards in my lanes. Big fights. I move cattle thru the lanes.
Lots of income but big pain in the backside.
Our ancestors gave us this. They fought to make it what it is. All we have to do is defend it.
- Brute 23
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Re: Mineral lease
Are you getting the minerals and royalties with the purchase of the surface?
Most likely it doesn't really matter if the lease conveys or not at this point. The deal has been done and you are just along for the ride now.
The real question is should you buy land that the minerals are already under lease... pros and cons?

Brimmer Pimpin Ain't Easy
"Don't let schooling interfere with your education" - Mark Twain
"Don't let schooling interfere with your education" - Mark Twain
- snoopdog
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Re: Mineral lease
Brute, I'm not sure about this particular piece, but a lot of the mineral rights in OK are tribal.
Being poor is the most expensive thing there is
- bird dog
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Re: Mineral lease
Does it have a no drill clause on the lease? If so they won't be on the property. You need to do some research on the lease itself and see what the company that leases it has in mind. Some are very easy to work with, most are not. If its a large tract they will probably eventually drill on it. If its small, they may not ever.
I doubt you can get the owner to change the minerals but you can always ask for half. Everything is negotiable.
I doubt you can get the owner to change the minerals but you can always ask for half. Everything is negotiable.
- TexasBred
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Re: Mineral lease
Sure, I've also sold land and retained the minerals. You use the word "lease" so I assume it is already leased so you won't get anything out of the minerals, however, you will own the surface and will be paid for drilling sites, pipeline easements, etc.
“Tell me what you brag about and I'll tell you what you lack”
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Spanish Proverb
- snoopdog
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Re: Mineral lease
There are wells on it, I don't know any particulars yet, we'll be getting with the realtor in a couple of weeks. We did a drive by and the online info is all we have now, doesn't mention "surface rights" only in the description. It has the seclusion we want, and I just don't think I can get used to unfettered access, at any price, we'll see.bird dog wrote: ↑Thu Aug 15, 2019 8:13 amDoes it have a no drill clause on the lease? If so they won't be on the property. You need to do some research on the lease itself and see what the company that leases it has in mind. Some are very easy to work with, most are not. If its a large tract they will probably eventually drill on it. If its small, they may not ever.
I doubt you can get the owner to change the minerals but you can always ask for half. Everything is negotiable.
Being poor is the most expensive thing there is
- ccr
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Re: Mineral lease
if the minerals are included in the sale of the property, a pros would be - if in a unit with a producing wells or has a producing well on the property a monthly royalty check may be forthcoming.
A con would be - if there is a lease already on the property and a well has not yet been drilled, in texas surface rights are subservient to the mineral rights, so say you were looking at 50 acres and thought there was a perfect house site in the southeast corner of the property and bought the land. Then the leesee decides to put a drill site where you thought a house would go before you built a house.
A person should have a land attorney represent you in a land transaction and understand the terms of the lease very well before purchasing.
i know as much about this as anything else i don't know much about
happiness is healthy cattle
happiness is healthy cattle
- Brute 23
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Re: Mineral lease
Dont trust the realtor. Get a copy of that lease and get it to an O&G attorney. If there is existing production it could be an extremely old lease. There is a major play in Oklahoma and you most likely do not want new production coming in with an old lease.
Last edited by Brute 23 on Fri Aug 16, 2019 7:07 am, edited 1 time in total.
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- TexasBred
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Re: Mineral lease
Best advise I've heard in ages. Realtors are often necessary to a point but then should be kept completely away from any transactions as they can &^%(^& up just about anything if you let them talk.Brute 23 wrote: ↑Thu Aug 15, 2019 10:20 pmDont trust the realtor. Get a copy of that lease and get it to an O&G attorney. If there is existing production it could be an extremely old lease. There is a major play in Oklahoma and you most likely do not want new production coming in with an old lease.
“Tell me what you brag about and I'll tell you what you lack”
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Spanish Proverb
- snoopdog
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Re: Mineral lease
Oh, I won't, Had one try and screw me on this place, she and the other one were supposed to split the commission from the seller. We rewrote the contract after some bargaining, and she had a 6% commission in there to be paid by me, and I called her on it, homey reads what he signs!
Being poor is the most expensive thing there is
- Brute 23
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Re: Mineral lease
I agree. They are there for marketing the property, doing leg work finding a property, or getting you comps on pricing. When it comes to the legality of the contract... get an attorney. I have not bought a lot of things but the few I have I used an attorney. It was cheaper than a realtor comission also.TexasBred wrote: ↑Fri Aug 16, 2019 5:45 pmBest advise I've heard in ages. Realtors are often necessary to a point but then should be kept completely away from any transactions as they can &^%(^& up just about anything if you let them talk.Brute 23 wrote: ↑Thu Aug 15, 2019 10:20 pmDont trust the realtor. Get a copy of that lease and get it to an O&G attorney. If there is existing production it could be an extremely old lease. There is a major play in Oklahoma and you most likely do not want new production coming in with an old lease.
Brimmer Pimpin Ain't Easy
"Don't let schooling interfere with your education" - Mark Twain
"Don't let schooling interfere with your education" - Mark Twain