There are a lot of new millionaires in North Dakota, Montana and Saskatchewan these days, thanks to the Bakken oil shale formation. It covers about 200,000 square miles and is the largest North American reserve of light sweet crude oil. Most of these new millionaires had no idea of the value of what was beneath their property, and most had never negotiated an oil lease before. Once they sign the lease, it’s extremely difficult to change it, perhaps for decades, so getting expert advice beforehand is important.
It’s also important to know how to verify the accuracy of the oil production reporting that’s the basis for the royalty checks–I’ve had clients who were shortchanged tens of thousands of dollars for several years before discovering the problem. How many more people never know they’ve been shortchanged?
Oil and gas expertise is hard to come by, but CBJ Law Offices helps our clients negotiate the best lease rates and get all the royalties due them. They also manage farm and ranch land, timber land, commercial property and development–something few other wealth management companies and professional trustees can offer.