O/G Lingo 101
Our group was told our property could be HBP because a portion of it could have been unitized with propery in another section owned by another party. My questions are these:
1. If in fact, our section can't lease due to an existing lease, would we be entitled to the same amount agreed upon by the original leasee?
2. How would a person go about finding out exactly how our property is involved in an existing lease?
3. Would we be entitled to any amounts from the time we purchased our property till present IF any production occurred?
I'm just trying to sort all this out in my mind. How can they say it's HBP if you are not somehow directly involved and if so.......how involved are we really? Seems to favor whatever way the drilling/leasing company wants it to go, it seems to me.
1. If in fact, our section can't lease due to an existing lease, would we be entitled to the same amount agreed upon by the original leasee?
2. How would a person go about finding out exactly how our property is involved in an existing lease?
3. Would we be entitled to any amounts from the time we purchased our property till present IF any production occurred?
I'm just trying to sort all this out in my mind. How can they say it's HBP if you are not somehow directly involved and if so.......how involved are we really? Seems to favor whatever way the drilling/leasing company wants it to go, it seems to me.
Views: 22
Replies to This Discussion
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Permalink Reply by SharonB T18N R15W S8 on
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Hey Tricia,
I don't know the answers to your questions, but I'm sure sorry to hear this has come up. Good luck.
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Permalink Reply by Aubrey C. Sanders, Jr. on
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My GUESS is that someone who owned land prior to your acquisition reserved mineral rights when they sold it. If that is the case and there has been production within last 10 years you may have no mineral rights. You need to look at deed to your property.
If you do not own minerals the only $ you will get is for property damages when they move drilling rig onto your land to drill for oil or gas on behalf of mineral owner. Bet you won't like that!!! I sure would not but I am aware of many cases where this has happened.
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Permalink Reply by Tricia Baker on
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The title only specifies "exclusive rights". There is no mention of mineral rights being included or excluded. Thank you, Mr. Sanders.
Hi, Sharon. Yeah, I'm thinking we're among some of the others this has come up with. Guess we're in good company. They were not very specific in our "We're no longer interested at this time" letter.
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Permalink Reply by Tom Bennett on -
Tricia; do you mind telling me where your land is located?
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Section 35 in Greenwood.
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