Oil & Gas Lease Negotiation
MYR Land Services can play an important role in assisting landowners with negotiating oil and gas leases. The goal of any landowner entering into an oil and gas lease is to obtain the most favorable terms possible while also protecting their property rights. Here are some ways that MYR Land Services can assist landowners with this process:
Reviewing Lease Offers
MYR Land Services can review lease offers from oil and gas companies and analyze the terms and conditions of each offer. This includes evaluating the amount of bonus payments and royalties offered, as well as any other important lease provisions.
Negotiation Support
MYR Land Services can assist in the negotiation of lease terms and provide guidance on potential counteroffers. They can also help landowners to understand the various clauses and provisions in the lease agreement, and explain the potential impact of each provision.
Mineral Rights Verification
MYR Land Services can help verify the mineral rights associated with the property, including any co-ownership interests, fractional ownerships, or ownership disputes. This information is essential to accurately negotiate and finalize an oil and gas lease agreement.
Lease Analysis
MYR Land Services can conduct a comprehensive analysis of the proposed lease agreement to identify any areas of concern or potential risk to the landowner. This can include evaluating provisions related to surface use, environmental concerns, and indemnification and insurance requirements.
Contract Preparation
Once the lease terms have been agreed upon, MYR Land Services can assist in the preparation and review of the lease agreement to ensure that all the agreed-upon terms are accurately reflected in the document. They can also work with the landowner's attorney to ensure that the lease agreement is legally sound and meets all the necessary legal requirements.
Ongoing Lease Management
MYR Land Services can assist in managing the lease agreement once it is executed. This can include tracking lease payments, monitoring drilling and production activity, and enforcing lease provisions to ensure that the landowner's rights are protected.