The oil boom has created a land rush by oil and natural gas companies and speculators looking to lock up drilling rights quickly and cheaply. Landowners are reporting encounters with fast-talking industry representatives using scare tactics to strong-arm owners into signing lowball lease agreements. Some unsuspecting landowners have signed leases granting drilling rights for a fraction of the going rate. Landowners are urged not to rush into signing any agreement and to check with a lawyer familiar with oil and gas leases and regulations. Follow this link for the full story.
Tuesday, June 3, 2008
"Be Wary of Landmen"--Dover's Magazine
The oil boom has created a land rush by oil and natural gas companies and speculators looking to lock up drilling rights quickly and cheaply. Landowners are reporting encounters with fast-talking industry representatives using scare tactics to strong-arm owners into signing lowball lease agreements. Some unsuspecting landowners have signed leases granting drilling rights for a fraction of the going rate. Landowners are urged not to rush into signing any agreement and to check with a lawyer familiar with oil and gas leases and regulations. Follow this link for the full story.
