In this article, you can discover…
You should bring any documents related to oil and gas interests, including royalties, deeds, leases, and check details. Please bring any estate planning documents, such as your will.
If someone who has recently passed away and was invested in oil and gas has left behind assets, please also bring their death certificate so that I can provide it to the probate court.
It really depends on the depth and complexity of the estate. An initial consultation could last anywhere from 30 minutes to two hours. In many cases, because someone has recently passed away, we’re dealing with a lot of emotions, as well, and I always want to make time for my clients’ feelings, questions, and concerns.
These aren’t conversations that can typically be wrapped up as the car is running. During our first consultation, I’ll take the time to clarify which estate assets and which oil and gas assets you have, as there are several different ways these assets can be distributed to beneficiaries. I’ll ensure you understand those options, so I can determine the best way to assist you during our initial meeting.
Yes, absolutely. My father is a longtime physician here in San Antonio, and I’ve always felt that one of his best assets was his incredible bedside manner and his ability to explain things to patients and family members in a way they could understand. That’s something he taught me and something that I strive to do as a lawyer.
The law does not have to be complicated. I really make an effort to make legal terms simple, whether that means explaining Latin legal terms in plain English or giving examples of these legal concepts so that you can understand what is meant.
I find that a common takeaway people have after they’ve utilized my services is, “I had no idea how easy this was going to be!” That’s my goal. I believe that every person deserves an adequate estate plan, regardless of age, health or wealth. The greatest compliment you can pay to me is “Man, that was simple and you kept it simple and affordable”.
Attorney Seth Bell is an experienced, trusted mineral rights attorney serving Texas. Since 1997, he’s helped clients just like you understand their mineral rights and negotiate with operators for the best deal possible.
Do you have questions or need legal guidance? Reach out to the Law Office of Seth K. Bell for an initial consultation today.
Most of the questions I’d ask can hopefully be answered by the documents you’ve brought me. I always tell people to “over-bring” when it comes to paperwork. Don’t try to figure out if I might need it or not. Just bring it, and if I don’t need it, I can always put it aside.
During our first meeting, I’ll gather as much information from you as possible about your situation to determine the next steps, which may include contacting an operator, preparing an affidavit of heirship, or generating an application to determine heirship.
The biggest question I tend to get from clients is “What is this going to cost me?” We offer a variety of payment options, and my goal is always to keep my services as affordable as possible. Sometimes services are billed hourly, but a lot of my estate planning is done on a flat fee, depending on the nature of the estate.
Yes, and this is a very important step. I always tell my clients that the lease you’ve been presented with is the one most favorable to the operator, not to you. That’s why they’re giving it to you. They want you to simply sign the document as quickly as possible, and not think too much.
To counter this, it is advisable to have an attorney review the contract, and three main areas can be negotiated:
The Bonus: How much of a bonus are they going to pay you for signing that lease? Many athletes get sign-on bonuses when they join teams, and oil and gas leases are no different. You’ll receive a bonus simply for signing the document, and we can work to negotiate a more favorable bonus amount.
Royalties: How high a percentage are they going to pay you in royalties? Royalties can range from 16% to 25%. That range can be huge, especially in an area that has great production, and negotiations will help optimize this number for you.
Primary Term Length: What is the length of the primary term? Generally, three years is the standard, and you shouldn’t try to push it beyond that. Within the primary term, your minerals must be placed within active production. If that doesn’t happen within those three years, the lease is no longer valid. However, if the company is in active production, the lease can continue beyond those primary years, potentially for decades.
Finally, one of the most important aspects of the lease deals with the payment of expenses from the production process. Ideally, you’ll be responsible as the mineral owner for as few of those drilling, marketing, or transporting expenses as possible, and this is a very big negotiating point, as well.
Many people are so enamored by someone contacting them to give them money that they don’t really think about the long-term implications of what they’re doing or signing. Remember, the operator or landman contacting you is not doing so for altruistic reasons.
They intend to make a whole lot more money than you off of your minerals. Why don’t we try to make the best deal possible?
Retaining an oil and gas lawyer is an investment. You’re seeking to maximize your return, and the money you spend on an experienced gas and oil lawyer will be returned in the form of a better deal on your lease or, alternatively, the future sale of your mineral rights.
As an attorney, I don’t represent operators. I specifically represent mineral owners and have decades of experience doing so. You’re up against big operators, companies, and landmen when they write up that lease for you to sign. Why not have someone on your side who knows the industry and who can negotiate a much better deal for you?
For more information on consulting with a Texas oil and gas attorney, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (210) 824-4001 today.
Attorney Seth Bell is an experienced, trusted mineral rights attorney serving Texas. Since 1997, he’s helped clients just like you understand their mineral rights and negotiate with operators for the best deal possible.
Do you have questions or need legal guidance? Reach out to the Law Office of Seth K. Bell for an initial consultation today.