Be Cautious Before Signing Leases
Weekly Almanac, Editorial
Some Wayne County landowners, particularly in the northern part of the county, have the opportunity to make royalties off their land by singing leases with natural gas companies that have been looking to acquire drilling rights here. Residents have been advised to find out as much as possible about the process before signing anything.
The companies’ interests will take precedence over the interests of the landowners.
Landowners were advised to join together, pool their acreage and hire a lawyer or agent to negotiate for them as a group.
-This editorial is one of the brightest and well written editorials that could be provided to the owners. The editorial realistically advises owners that they should look to what rights they have and pool their acreage. In most States, there is a State statute which allows pooling, thereby allowing the individual owners to maximize their values. This will likely result in the highest possible royalty percentage.
