Drills Letter
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I received a letter from a oil and gas company about a lease of subsurface mineral estate.?
If i lease my land to them they will offer a $500 per lot signing bonus and royalty interests of 23% for a 5 year primary term. they want to drill horizontal, drill site will be off the land.
who knows about this mineral estate? will this cause any problems with my home?
I think you could get into trouble because if they drill horizontally, it's technically not taking the oil off of your land, but stealing it from the adjacent property. You would be wise to consult an attorney regarding this matter because as far as I can remember from law class, horizontal drilling is technically stealing. Although the offer may sound appealing, it is not morally right. It sounds like the exploration company has already tried to contact the owner of the adjacent property and he probably wouldn't let them drill, so they are trying you. Definitely consult a lawyer, most of them will do free consults.
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