Oil Lease/Bossier Parrish

I am one of several family heirs to a oil and gas lease located in Bossier Parish, Louisana. (Section 32, Township 17 North, Range 11 West). The lease was signed by family members in 1972. Current holder of the lease is PetroHawk Company. Royalties amounts are very small. It seems the lease has no ending date. Any recourse for redoing the lease. Need help. Thanks!

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Permalink Reply by Jed Clampett Bn2 on November 5, 2011 at 17:01
You are HBP (held by prodution) How many acres?? What are the specifics of the lease??
Permalink Reply by Mark Mathews on November 6, 2011 at 20:35
Lease is for 40 acres.  Lease is in force as long as oil, gas, sulphur or other minerals is produced from lease acreage. Royalties to be paid by Lessee are one-eighth of production.   Lease signed in September of 1972.   Any way of redoing this lease?
Permalink Reply by Checkmateking on November 7, 2011 at 2:25
You are stuck, sucks I know
Permalink Reply by The_Baron on November 7, 2011 at 3:59

Mark,

 

It is tough to get out of a producing lease. Your best hope would be to make a demand that the HA be developed, or have those depths releasd. If they refuse, you would have to go to court. The odds would be slim to none of winning in court.

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