Our lease expired the beginning of July. We have contacted our lessor and requested that they release the lease since there is no production within our section. Is there a legal time limit to how long the company has to respond to our letter? By law, do they have 30 days or 60?Thanks.
Thanks for all of the contributions on this discussion. My purpose in starting the discussion was to learn about the process at the end of a lease. We did read our lease thoroughly and there was no mention in it about the leasing company notifying us at the end of the lease. It was our decision to contact an attorney to write and send the certified letter requesting the release. We thought that this would be the smart thing to do. It would provide us, the leasing company and any landman researching our section with a clear sign that the land was not tied up. If there had been a problem with the lease, the leasing company would have caught that fact when we presented the request for the release and notified us. Since we have the release, we know that the leasing company agrees with us that particular lease is over, with no problems at a later date.
The bill for this was $50. To have this issue resolved: priceless!! LOL
As exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More