Do You Want to Become an Oil and Gas Landman?

I've been an oil and gas landman for many years now and just recently have noticed a new trend. There are people waiting in line for this job and schools that claim to teach you how to do it in three days. I'll admit, I love being a landman and the money is great! But, it's not for everybody. A lot of these newcomers get the job with hopes of making the "big bucks" only to find out that they're not going to get rich and it's far from easy money. Before you commit to beginning the journey of becoming an oil and gas landman, let me give you a couple of facts about what the job really entails.

The courthouse is generally where a landman starts a job. Their broker or oil company will give them a map with a particular tract of land outlined on it and tell 'em to go get it. Title research is a very serious job that takes years of training and hard work to do it correctly. One mistake can cost the oil company thousand, and even tens of thousands of dollars. A good landman needs a firm grasp of real property law to be successful.

Once the landman figures out who he needs to lease it's time to get on the phone and start knocking on doors. The company you're working for will give you the basic terms acceptable on the agreement such as royalty and bonus payment for the lease. It's your job to get it done. More than likely you're going to end up sitting across the table from the local attorney, who's probably been doing this for years, arguing about the fine print in the lease. That three page lease with eight point font has suddenly become a fifteen page lease. A firm grasp of contract and oil and gas law would come in handy at this point.

The above two paragraphs only outline what an entry level oil and gas landman will face every day on the job. Entry level guys don't make the $450 a day that you see advertise in the advertisements either. I started out making $150 a day. If I made a mistake at that level it could have easily been the end of my career too. Unless you somehow manage to land a in-house landman job then you're not an employee, but a subcontractor. You don't get fired, your services just aren't needed anymore.

Another thing that entry level landmen don't see for the dollar signs getting in the way is that the majority of your weeknights are spent in motel rooms hundreds of miles from home. You have to go to the land, it's not going to come to you. It seems fun and exciting the first time you do it but, that won't last. Try living out of a motel room for a year.

I'm not saying that being a landman is a bad job. I'm saying that it's far from perfect. It takes a unique person to handle the enormous amounts of stress and to be away from home the majority of time. Be prepared to study, study and study some more because if you haven't gone to law school, you've got a lot of catching up to do. With all that being said, if you like the thrill of closing a tough negotiation, of learning new things on a daily basis and being on the move all the time, then it may be the right choice for you. And, if you're good at what you do, a six figure income isn't too far fetched.

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