What are the Consequences of NOT CALLING?
The two biggest problems I see are:
1. Jumping to sign a Standard Oil and Gas Lease with the first Landman who comes a’knocking, and…
2. Missing the boat entirely by not acting when the Landman does come to visit.
A Standard Oil and Gas Lease is the lease the oil company wants you to sign… wouldn’t it make more sense to consult with a professional and get the oil company to sign the lease YOU want?
Don’t miss the boat either… if all of your neighbors sign a lease and become part of a drilling unit and you don’t, the gas company will recover your gas anyway… you just won’t get compensated for it in the form of royalties or land bonuses. The gas is underground and if the oil company fracks a horizontal well near the edge of your property, your gas will be captured and you will never know.