We have some land that that is being checked for possible oil drilling. What is the normal rate an oil compam

What is the normal rate an oil company pays to use your land if they drill? Or what percent of the cut do you receive?We have some land that that is being checked for possible oil drilling. What is the normal rate an oil compam
Its completely negotiable and they will offer way less than its worth, I guarantee (go watch the movie - ';There will be blood.';). Anyhow, if they show any interest I'd get together with all your neighbors and try to work something out as a group (maybe you could hire a lawyer to represent you jointly). In fact you may want to talk to all your neighbors now and tell them not to sign anything until you all can talk together.We have some land that that is being checked for possible oil drilling. What is the normal rate an oil compam
This will vary by the potential production. What can happen is the oil company leases the land, the mineral rights and pays you a percentage of the oil proceeds.





It will be in your best interest to speak with an RE attorney ASAP.