Once a company gets permitted to drill a well on your section, are they required to actually drill, and if so, is there a time restraint on how soon they need to get started?

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The permit is good for 90 days. It can be renewed once for another 90 days. This is 180 days or 6 months. If nothing happens at the end of 180 days, the permit expires and the company has to file for a new permit.
Do the o&g pay a fee for permits? And if so, is it costly enough that they are very likely to drill once a permit is recieved?
A permit to drill deeper than 10,001 feet is $1,264. The costs of a survey plat, hearing, etc.,are in addition to this. The fees vary by depth of the well.

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