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Oil/Gas/oil and gas mineral lease


First, I would like to say I was impressed with your responses to other questioners.  
I am being offered an oil and gas mineral lease by a petroleum landman (R.K. Pinson @ Associates) on a 20 acre parcel, Section 4-19N-17W in Dewey County, Oklahoma.  Initial terms are 3 year lease, two year option; $125/acre;3/16 royalty;and no mention of lease bonus.  Not being at all familiar with the location, would appreciate your thoughts on this proposal and where I might find comparable property leasing terms.


Thank you for the compliment, I limit my questions on AllExperts only because I want to answer each one very carefully and that requires much thought.

As far as finding comparable leasing terms that is not information that is of public record so my recommendation would be to touch base with landowners in the same vicinity and see what their offers are.  

On the terms of your current lease offer you have indicated $125/acre - this is the lease bonus amount and I presume if the 2-year option is exercised, an additional $125/acre will be due.  However, Rodger, I feel the $125/acre is low and would recommend that you counter with:  $200/acre and 1/4th royalty.
Let them come back and counter with you - but let's see what their counter is.

It is always my recommendation never to accept the first offer out of the shoot - because typically you will not be made the highest offer the landman has approval for.

Best of luck and I hope this information assists you in receiving higher terms on your 20-acre tract.

Please be sure and rate my answer if this has been helpful.



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Laura M. FitzGerald, CPL


PLEASE READ CAREFULLY BEFORE SUBMITTING A QUESTION. I can answer all questions related to oil and gas ownership, mineral interests and working interests concerning the leasing and selling of your minerals, any questions concerning pipeline ROW's, units with the Louisiana Department of Conservation; pooling provisions, depth limitations, vertical or horizontal pugh clauses; and oil and gas terminology. I can offer assistance in negotiating for leasing your property, assisting in locating owners of suspended funds or to receive the best offer for your oil and gas interests, should you desire to sell. I am only able to answer questions regarding oil and gas leases, minerals, royalties, or offers to purchase mineral/royalty interests if I have complete information. Please provide a full legal description for your interest(s). If the question pertains to a lease, please include all terms of any current (or desired) lease offers, including lease bonus amount, royalty and lease term. If the question is regarding a mineral or royalty interest offer to purchase, please provide the offer amount, date of offer, other offer terms, and further details on the mineral/royalty interest, such as lease terms, and if producing, the average monthly income. Since I receive numerous inquiries daily, I am only able to answer your questions efficiently and effectively if I have complete information. I must decline any questions submitted with incomplete information. If your question is non-technical in nature and you simply need assistance understanding an oil and gas matter, please submit your question with as much information and detail as possible. Any background information that has led to your question is also very helpful.


I have over 34 years experience as an Independent Petroleum Landman. I became a Landman after working as a paralegal for Oil & Gas Attorneys for 8 years. My first 2 years were spent specializing in Well History and Research with the Louisiana Department of Conservation, then moving into clearing title defects and handling title curative for oil and gas properties for the next 6 years. Subsequent thereto, I handled title issues, buying oil and gas leases and settling surface damages. I also acquired acreage for drilling prospects in excess of 10,000 acres. I also became a mineral/royalty owner commencing in 2004 and have found that I can help many people when they have reached the point in their lives they feel converting their minerals or royalties into a cash asset benefits them.

American Association for Professional Landmen, ArkLaTex Assoc. of Professional Landmen, and Dallas Association of Professional Landmen (DAPL), Certified by the Women's Business Enterprise National Council (WBENC)- South. This certification is one of the most widely recognized and respected certifications in the nation. This designation is reserved for only those women-led businesses that exemplify the characteristics of integrity and professionalism to which the WBENC adheres to so strictly.

Attended LSU, became a Certified Professional Landman in 1994; Notary Public with dual authority in multiple parishes in North Louisiana; Bilingual in English and Greek

Awards and Honors
Expert Oil & Gas Professional assisting attorneys representing landowners. Involved in 2 lawsuits and both suits were awarded to the landowner. Ilios Resources, Inc. has been awarded the Best of Shreveport Oil and Gas Mineral Buyer Award for 2016, 2015, 2014, 2013 and 2012.

Past/Present Clients
Consultant Landman for Texas Oil & Gas (TXO Production Corp.), Anadarko Petroleum, Comstock Resources,Independent Geologists, Pipeline ROW Clients, and Oil & Gas Attorneys. For the past 5 years my practice is primarily an advocacy for the landowner. I also assist royalty owners recover suspended payments or incorrect royalty payments, or sell their mineral or royalty interest.

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