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NRH Mineral Owners Alliance (“NRHMOA”) |
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Joining mineral rights owners in North Richland Hills and Watauga for the common goal of negotiating favorable gas leases. |
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DO NOT SIGN A GAS LEASE WITHOUT READING THIS FIRST! |
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COMMUNITY MEETING TUESDAY, FEBRUARY 5th 7:00p at Life Church 7850 Davis Blvd NRH, TX 76180
Meet with experienced oil and gas attorney Bob West.
THIS IS A FREE EVENT
This website was put together by a group of volunteers in North Richland Hills and Watauga, TX who own the mineral rights to their land. Due to the location of North Richland Hills and Watauga on the Barnett Shale, gas companies are interested in drilling underneath our land to extract and sell natural gas. In order to do so, the gas companies are interested into entering into leases with mineral rights owners, offering signing bonuses and royalties on the gas that is extracted and sold. If you are a mineral rights owner, you might have already been contacted by a landman working on behalf of a gas company. If you deal with the gas companies as a single mineral rights owner, the offer that you receive is likely to be for a $1500-$4000/acre signing bonus plus 18-25% royalties, with a 3- to 5-year primary term. The lease form that you will be required to use will be vague, will probably leave you open for potential problems in the future, and will probably give the gas company the right to charge a greater portion of the production and sales costs to you before calculating your royalties. On the other hand, by forming a neighborhood negotiating unit, we expect to achieve success similar to (or even better than) neighborhoods in Fort Worth and Arlington where they have negotiated leases with $15,000-$25,000/acre signing bonuses plus 25-30% royalties, and with customized leases designed to protect the mineral rights owner. No one is going to get rich off of their gas lease, but why settle for less money than your property is worth? Some companies are buying mineral rights below market value and then selling them for a much higher profit. Rather than going through a middleman, we are trying to go straight to the companies and have them compete for our leases.
Please be aware that while NRHMOA is growing its membership base and negotiating a lease, there is a HIGH PROBABILITY that companies will try to pressure you into signing a lease. They may offer a signing bonus that sounds too good to pass up – or they may make many promises that they refuse to include in your lease. We would request that you NOT SIGN anything until you see the lease that NRHMOA negotiates.
How do you join our group?
First, download a Memorandum of Intent (Word format) (PDF format), complete, and mail to the address on the form.
Second, go to our Yahoo! Groups page and join our Yahoo! Group. Here you can communicate online with your neighbors, keep in touch with the homeowners in your area who are volunteering their time to organize this group, and receive updates through e-mail.
The information contained in this website is not to be construed as, and is not, legal advice and should not be relied upon as a substitute for legal advice.
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