Is it true that they can drill under your land and you will still not get paid anything?
I am curious if they drill under your land and by the time they deduct their costs you will not get anything or more than likley will get very little if they obtain the amount they need from surrounding areas and you have not been asked to sign a lease. This must be true as how would they know who to pay so likely as not you will get nothing and they will take the gas out from under you. It seems you have to sign a lease to get paid am I right?
Views: 91
Replies to This Discussion
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Permalink Reply by RAY on -
go to the discussion"FORUM' and you will find this topic on at least
20 other posts.
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Permalink Reply by Snake Stewart on
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They will put your money in an account until the owner can be located. Thats what happens when someone lives out of State and they do not know who the current owner is.They would rather have you as a signed mineral owner but if they have enough acreage to drill and make it financially worth their while they would have to pay the unleased their portion. The penalties for non payment are pretty severe from what I understand , besides the bad light that would put them in.
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Permalink Reply by insomniacnla on
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Snake, you are right. The legal term I believe is that you "tender" the money.
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Permalink Reply by Osborn on
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I live near winchester's well that blew up. I have not been contacted about a lease or royalties. I have seen an attorney; that was no help. Any advice is appreciated.
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Permalink Reply by Thomas T. Thomas on
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No you do not have to sign a lease to get paid. If a decent well or several wells are producing in your unit then you will be paid 100% of the PROFIT, and will have the potential to make much more than the people who leased their land. Then again if they do not have profitable wells or drill dry holes you will have little or nothing.
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Permalink Reply by crazycat on
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Did not intend to bring up an old question, sorry for the inconvenience. I am new to this forum ( 4 days) and have not had the time to go through every posted question! I do not have that much time on my hands. Sorry again!!!
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You know, I have noticed several of you say this concerning previously discussed topics. Some of us are busy and are trying to get information where we can. We do not have the time to sit and read every topic that has been previously discussed. I have read several of your responses and I think you are a knowledgable person. But you and the others need to cut some slack to some of us who are extremley busy and doing our best to figure all this out. If it annoys you, then simply don't reply. If the web administrator would rather us move on, then let them police the site and notify us of same.
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Permalink Reply by Bardweiser on
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I think a better idea would be for the admin to add a FAQ section with answers to questions like these in the most laymen-friendly terms possible ;)
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