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Yes I have 8.2 acres In terry county I have been approached for lease 150 an acre 15% royalty 3 years but was told that sometimes this is done by speculators if I am using the right term who in turn turn around and sell this to other company for a higher price how do I know if this is the case.My rights are located at section 43 block DD .

Most often the "speculators" will have leases that state only their name as lessee, rather than a company. "John Smith" etc. rather than "Legacy Oil" or something. You can't always tell simply by a name, but you can always ask the lessee if they plan to drill a well, or ask them whether they plan to sell your lease to someone else.

You shouldn't confuse landmen working for land companies with speculators though, as it's fairly common for someone working for "R.J. Land Company" to be hired by an oil company to buy leases for them. In most cases these types of leases will have the land company's name as lessee, rather than someone's individual name. The land company will later assign your lease to their oil company client, but not for a profit as a speculator would do.

Nothing wrong with selling to a speculator in my opinion, as long as the lease terms are fair for the area. Sometimes a speculator will be willing to lease your mineral rights in advance of what they hope will be an area an oil company will later become interested in. In these cases they may be the only people currently leasing in your area so it depends on what your goals are. If you need money "right now" they may be the only option you have if you want to lease.

Hope this helps you out.
Frederick M. "Mick" Scott CMM, RPL
The Mineral Hub  


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Frederick M. Scott


Oil and gas leasing, lease negotiations, how to best deal with the oil and gas companies or their representatives, buying/selling mineral rights, forced-pooling, correlative rights, deeds and conveyances, and "post-production" costs. I am most experienced with Oklahoma properties and laws, but am able to answer questions concerning other oil and gas producing states in many cases.


I am a Certified Professional Mineral Manager (CMM) certified by the National Association of Royalty Owners (NARO) in Tulsa, OK. I am also a Registered Professional Landman (RPL) with the American Association of Professional Landmen (AAPL). I have managed my family's oil and gas properties in Oklahoma for over 10 years and have dealt with many landmen, title analysts, attorneys and other oil and gas professionals in the process. I have written several articles which have appeared in various oil and gas industry magazines and newsletters. I have negotiated and drafted leases, prepared deeds, affidavits, and other legal instruments relating to my own minerals, as well as performed title, legal research, and curative work for same. I have acquired a good deal of knowledge on the subjects of oil and gas law, mineral appraisal, and landwork over the past ten years, and also worked as a professional landman and lease buyer for a time. I've seen the business from "both sides" and therefore feel confident I can help out most of the folks who ask questions in this forum.

National Association of Royalty Owners (NARO); American Association of Professional Landmen (AAPL)

National Association of Royalty Owners "Action Report" (ROAR); NADOA Magazine, The Mineral Hub, Landman Magazine, and several royalty owner association group's newsletters.

Certified Mineral Manager (CMM), Registered Professional Landman (RPL)

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