Originally Posted by GetItOffroadGMC
There has been a company sending my MIL letters trying to get her to sign a lease also. They are offering $100 for a 5 year lease and 1/8th percent of oil harvested. She lives off Andersonville rd in Waterford. They keep telling her no equipment, or operations on her site, as they will drill horizontally from the Indian Springs well.
I was present on Wed when one of their reps came to her house trying to talk her into it. She refused, and he says, "We will be in touch once more of your neighbors come on board"
What's stopping them from taking the oil under her property if she refuses, but any one of her neighbors allow it??
The 1/8th is divided up between the pool. If you own 10 acres in a 100 acre pool, you get 1/10 of the 1/8th.
If she owns the mineral rights, and doesn't sign the lease, she could become an investor, pay for her part of the well, and collect her share. Get a lawler that deals with oil and gas leases.