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Im glad you posted this as I guess I wasnt clear on what the law was either..
To further confuse things, farmer Joe may not own the mineral rights and therefore does not have a mineral lease. What he does own is a surface agreement with monetary penalties to the leasing company. So this law does protect you in some circumstances but is not clear by the signs posted at the entrance.
The rest appears to apply to your companys feelings on firearms. It is amusing in the fact that if I enter another companies plant or facility, that there only recourse is to ask me to leave and to notify my employer. Nothing really changes in my day to day operations but its always nice to know what the law is.

On a side note: I thought there was some FERC laws that applied to a public utility status of regulated plant about firearms but I cannot find anything. Is this just old superstition?

This is unbelievably grey. The firearm restrictions on those signs come directly from the land owner land lease agreement and not the company so I would say are unenforceable under that law. There are others I travel to that have enforceable company restrictions and do active searches of vehicles which is the company policy. Really you should know where you are going if you are in the business and already know what their policy is. It's easier then it sounds. I politely refuse and leave the property when confronted as I do not have to be there. I usually just phone my contact for the place to let them know I cannot enter and I am back on with permission in an hour. It's funny how most down in south Texas still have common sense. Still I have never heard of anything past being barred from a ranch is the punishment. to be honest, no one wants to wait several hours for a leo who is most likely going to send you on your way. This is going to be 99% location location location. Eagle Ford is a dangerous place and I can wow you with unbelievable stories that have happened to co-workers and friends since 2008. Parts of Barnett Shale, not so much and is a totally different world. Probably going to jail there if in Tarrant. If there is ever a reason to carry a gun in Texas or open carry of a long rifle, Eagle Ford is it. I know some of our op guys that carry their AR in the truck. Border patrol, DPS, sheriff, etc. will not bother you and your chance of being prosecuted for something reasonable is almost zilch. This is why I am really bothered by seeing people open carry in a Starbucks or Target.. Most of these people are clueless that places still exist with no cell service, help that is non existent, and the feeling of truly being on your own.

Long paragraph to say I would honor what your company policy is. There are not many in my field of work that are unarmed.It is still a culture of I will show you mine if you show me yours mixed with a bit a common sense. I am going to guess that just by reading your post that this isnt your field of work. It was probably almost an odd question for your friend to answer.