Gizmo: You should be extremely careful in leasing your property for production of oil and/or gas. Because of the small size of your tract I would suggest that you not grant any oil production rights. This is because the use of the surface of your property will be more intense if oil production is intended. A five year lease is too long. Your real incentive to grant the lease is to obtain production of the mineral and to receive your landowner's royalty in sufficient amounts to make it worthwhile to have the inconvenience on your property. If the person seeking the lease really intends to produce the minerals, they should be willing to take a much shorter lease such as 6 months or 1 year. If they obtain production then the lease will continue and be kept in force by the continuing production. Also, please use a knowledgable oil and gas attorney to advise you and to negotiate the terms of the lease, especially those terms that protect your surface rights.

Rock Creek