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!
Views: 547
Replies to This Discussion
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landownerPermalink Reply by Jed Clampett Bn2 on -
You are HBP (held by prodution) How many acres?? What are the specifics of the lease??
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landownerPermalink Reply by Mark Mathews on -
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?
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landownerPermalink Reply by Checkmateking on -
You are stuck, sucks I know
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Oil & Gas ProPermalink Reply by The_Baron on -
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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