HBP by CV well affect on 10 year prescription

I have the opportunity to purchase mineral rights beneath the cotton valley. These minerals are held by production by numerous cotton valley wells. The Seller of the minerals does not currently own the surface land. The Seller is offering to sell me the deep mineral rights. My question is whether or not the current CV wells will hold the deeper rights for longer than 10 years or will the deeper rights revert to the mineral owner of the CV wells after 10 years?

Thanks in advance.

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Permalink Reply by Jay Murrell on March 15, 2009 at 16:19
KB:

The mineral owner will need to figure out how to compel the operator to show proof that they have taken some action to perpetuate the lease under its terms.

The burden is on the operator, in the absence of production, to prove that they have maintained the lease by operations.

I suggest a demand letter asking for a release.

JM
Permalink Reply by Sweet Tea on March 15, 2009 at 17:12
Thanks to all for the replies. This gives me a starting point for research.
ST

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