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Permalink Reply by The_Baron on July 7, 2009 at 4:48

your thinking to hard KB/wolf. If the well is not producing it is pretty clear cut.

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Permalink Reply by The_Baron on July 7, 2009 at 6:27

If the lease expires it expires.

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Permalink Reply by The_Baron on July 7, 2009 at 4:47

The lease is only held after the primary if one of the following occur:

1) well is producing, lease is Held By Production (HBP)

2) Well is capable of producing, shown by a succesful test. If it is not activly producing though, shut in rentals must be paid.

3) Lease is extended.


If these do not occur, the lease expires.

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Permalink Reply by The_Baron on July 7, 2009 at 6:30

http://www.utcle.org/eLibrary/preview.php?asset_file_id=14046

Its for Texas, but it may help.


http://www.docstoc.com/docs/2676267/BANKRUPTCY-ISSUES-IN-OIL-AND-GAS

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Permalink Reply by The_Baron on July 7, 2009 at 6:35

http://caselaw.lp.findlaw.com/cgi-bin/getcase.pl?court=5th&navb...

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