Land Referral Program Overview
Thank you for your interest in our Land Referral Program – our way of tapping into local knowledge to help us identify and pursue acreage for Oil and Gas exploration, development and production. You provide us with property to evaluate, and if we are ultimately able to lease any part of the property, you will receive a royalty interest in the oil and gas production from the property, subject to the terms and conditions of our Referral and Finder’s Fee Agreement. You may even refer us to property that you personally own!
We have provided a step-by-step walkthrough of the referral process below.
Once you accept the terms of our Referral and Finder’s Fee Agreement and provide us with a description of the property, the Evaluation Phase will begin. The Evaluation Phase consists of the following 3 independent steps, each of which must result in a positive grade before we will move on to the next.
1. Geographical evaluation – We determine whether or not the property is located in an area in which we are interested.
2. Geological evaluation – We examine the geological data to determine the feasibility of oil and/or gas development and production.
3. Verification of Leasability – We examine official public records to determine the leasability of the property.
Once the Evaluation Phase is complete, if we decide to pursue the acquisition of leasehold rights in all or a portion of the property, we will notify you that the Acquisition Phase has begun. The Acquisition Phase will last up to six (6) months, during which time we will make our best efforts to obtain a lease or leases covering all or a portion of the property at commercially reasonable and economically feasible terms. If we are able to obtain any such leases with a lessor royalty of less than twenty-five percent (25%), you will be assigned an overriding royalty interest in any such leases to the extent that they cover the property.
If you wish to make a referral, please continue on to the Referral and Finder’s Fee Agreement.