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Lease offer checklist: what to ask before you sign
Tick each line your offer says. The questions to ask the company build below as you go. Nothing you tick leaves this page unless you send it to us.
Questions to ask
- What royalty fraction are you offering, and is it the same for oil, gas and liquids?
- What is the bonus per net mineral acre, and how many net acres do you show for me?
- Will you pay royalty on gross proceeds at the point of sale, with no post-production deductions?
- How long is the primary term, and when does it start?
- Will you limit shut-in to a set number of years in a row, and in total?
- Will you add a continuous development clause after the primary term?
- Will you add a Pugh clause releasing land outside producing units at the end of the primary term?
- Will you release depths below the deepest producing formation after the primary term?
- Will you send me notice and a plat of any unit, and limit unit size?
- Will you give notice before entry, pay surface damages and restore the land?
- Will you give me written notice of any assignment, with the new company's name and address?
- Will you send the full lease with every exhibit and addendum attached?
Want a landman to read the offer?
Tell us what you got and what you want to know. We reply by email and tell you how to send the pages. A landman reads them and sends back a one-page review sheet.
Email hello@landman.review with what you got and your question, or call (307) 263-8515.