Lease back question

Here is the scenario. Ninety acres total. 80 acres under toledo bend in an estate and 10 acres that remained above the waterline once the lake filled. 10 acres above water changes ownership. Do the mineral rights to the 80 acres go to the new owner after a period of time or do they remain in the estate?

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Permalink Reply by Two Dogs, Pirate on December 9, 2008 at 0:39
I ain't talking about the mechanical end of drilling a well. If you want to look at the land title from hell go to Ebarb.
Permalink Reply by Dion Warr, CPL on December 8, 2008 at 9:55
Jim:

You're a landman, Jim. Think of some ethical reasons why I would be unable to do that.
Permalink Reply by The_Baron on December 8, 2008 at 10:10
There are several things to consider here.

Jim and Dion cold argue all day long, I agree with Dion that the original conveyance needs to be looked at. If it was expropriated, the minerals would have stayed with the original owners. If it was sold to the government, I would want to see a reservation in the deed.

Now, assuming the minerals were kept by the original owner,
....When the property was sold, the description is important. Was it clearly for the 10 acres, and 10 acres only, or did it actuaully sell the 10 acres with all of the minerals?

I don't think we can say anything more without seeing the deed.
Permalink Reply by Greedy Landowner on December 9, 2008 at 2:33
Thanks for the input!!! I do know with certainty that the state does not have the mineral rights. The current deed is ambiguous, and only describes the original parcel as a whole that was purchased before the lake was there. My assumption based on Mr. Krow's input would be that the lease back property would be held in the estate and thus separate from the above water section of land.

Thanks again for the help. Regarding drilling under the lake, aren't there already laterals running under the lake from the shallower formation?
Permalink Reply by Skip Peel - Mineral Consultant on December 9, 2008 at 2:37
GL. There may be laterals running under the lake. I do not know for sure but would be surprised as the shallower formations are produced by vertical wells. Not horizontals.
Permalink Reply by Two Dogs, Pirate on December 9, 2008 at 3:26
There are laterals in the Fredrickberg Formation under the lake North of Ebarb. There is a James Lime with several laterals drilled on the Texas side from Ebarb.
Permalink Reply by Skip Peel - Mineral Consultant on December 9, 2008 at 3:53
KB. Slant wells don't count as laterals.

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