What’s the difference and which one is best?
The answer to this question, like most things oil and gas related, is not cut and dry. Both in-house and independent Landmen are necessary resources and great partners to have when it comes to transacting and negotiating deals.
In this blog, I cover the differences between the two and the optimal scenario you want to be in when interacting with them.
The In-House Landman vs. Independent Landman
In-House Landmen and women are employed by an oil and gas firm or corporation. They are not allowed to, and do not, receive bonus payments or royalty dividends since their duty is to represent the company they work for. They do all the necessary legwork under the direction and management of the company they represent.
Independent Landmen and women tend to have larger networks of company Executives or company Landmen and/or independent Landmen they do business with.
The Independent Landman’s job is to get the best possible outcome for their clients because if they do, then the monetary rewards can be substantial for them as well.
One way to make this happen is with the support and/or the relationships Independent Landmen have with oil and gas firms and corporations. If your Landman decides to bring in a partner, then that means he has to pay them a portion out of his payout, which could mean a higher premium payout for the Landman to make up for this disbursement.
Check out the full article for more information and if you need further assistance or clarification, schedule a complimentary consultation or fill out the form below and we will get in touch with you.
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