I have a small interest in a couple of wells that have been producing up until February of this year when they were both closed in (according to the MSOGB site). I believe the operator went bankrupt and I was not paid for at least a year's production but that's for another discussion. I have now been approached by someone wanting to lease the property that the wells are on so they can rework those wells. My question is when does my original lease expire after a well is closed in? Any info would be greatly appreciated.
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Read your lease, there should be a 90 day clause on no work or something like that in the lease
Thanks for the info everyone. I assume that the new operator knows whether he can lease these mineral rights or not so I'm not worried about that but I was just curious as to the legalities. Looks like I need to read the original lease which was made around 1981! Luckily my family has kept great records over the years so it shouldn't be too difficult to find. Thanks again for the help.
Shale drilling and lithium extraction are seemingly distinct activities, but there is a growing connection between the two as the world moves towards cleaner energy solutions. While shale drilling primarily targets…
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AboutAs 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 |
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