If you have the potential to collaborate with other entities and participate in a gas lease, the opportunity may sound incredibly promising when you hear about the potential benefits. However, doing your research before agreeing to any type of contract is imperative to protecting your assets. At Ehrlich, Pledger Law, LLP, we have helped many land owners in California to understand more about their rights in preparation for signing a contract.
Going into a potential contract deal in regards to a gas lease, you can never ask too many questions. Your vigilance and interest in finding out exactly what you are getting involved in may potentially be the difference in a successful agreement versus one that completely takes advantage of your assets. According to dojmt.gov, to begin, you should take your time to get to know the entity who is requesting a contract deal. Ask around about them and pay attention to what people are saying.
Do not be afraid to set boundaries for negotiation. Within these boundaries, be a fearless negotiator in making sure you get a fair deal. If negotiations get intense, do not allow yourself to give into the pressure and settle for an agreement that will not truly benefit you or adequately protect your land. Develop a network of other land owners who you can rely on for advice and input when you are working towards a new contract deal.
When you are careful about the development of new contracts and are committed to finding out everything you can before signing any papers, you can better protect your land, your assets and the outcome of your agreement. For more information about oil and gas transactions, visit our web page.