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Can I create a one/two man LLC in Texas targeting an old oil field lease?

Yes LLCs are commonly set up for this type of purpose. An LLC is a dynamic business structure and works well for many situations. The main benefits for being an LLC is that it’s easy and cheap to set up, it provides personal liability protection, and it is not taxed as an entity. Therefore, it’s ideal for small businesses with only a few owners (called members) that want protection but not be hassled with formalities & regulations.

If you’re interested in having a business attorney assist you with forming your business then I invite you to LawTrades. We’re a legal marketplace that helps entrepreneurs like yourself by connecting them to top-notch, yet affordable, lawyers. We offer free consultations and a money-back guarantee. Good luck w/ the venture and feel free to message me w/ any other questions that come up.

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