That is the problem. It produces, just poorly. Like to the tune of $25 per year for 3/4 acre. I don't believe they would re-lease the section, if they can HBP. I am going to try to meet with the largest landowner in the section though. It never hurts to try.
No depth specified.****
The company told me that someone would be in contact with me.
But since alot of people out here renewed I honestly don't know where that leaves me. Am I obligated to this same company or am I free to lease with someone else?
Unbelievable, I got a copy of the lease. Complete with a list of names & other identifyers.
ok here goes
original lease signed in October 1999 ($50 per acre)
no depth clause specified
previous owner did not renew but several people out here did -- (I have now notified the leasing drilling company that I am the owner and faxed them copies)
there was an option to renew at the end of the primary term for an additional 2 years as I stated before the previous owner did not renew, but the well showed no production from sept 07 til may 08 and then only a minute amount.
Can you help shed some light on this?
Am I stuck? Do I have any say over what the mineral lease?
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