Question concerning current lease
Okay my wife and her family signed a lease awhile back and I have a question. My wife and her family own the mineral rights only and leased those. My question concerns the abstracts listed in the lease. How do we determine where the actual MR's lay? There are 34 different abstracts listed in the lease and I see where one of the abstracts has a well going in (James English). Also as a second question I guess how can we figure out if the MR's we've leased are part of a unit. I know these questions are a little late but the terms of the lease were agreeable to the family and I believe we got a decent deal, the lease is short term and by them agreeing to it I believe they have intentions of drilling but I still have these questions. Thanks for any advice you may give.
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Permalink Reply by adubu on
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If there are 34 abstract legal descriptions of different tracts I am educating guess your minerals are undivided interest in all or some of the tracts listed. Ask the landman who you leased from if he would share with you his "Run Sheet" (Which is timeline of the minerals changing owners thru heirship---a pre-title run) that would give estimate of your net minerals acres own by you and family. This is what they calculated their bonus amount per acre for your lease. Ask him if your minerals are placed in a unit that has premit to drill or you can look on the Texas RRC site to see if operator has drilling premits then check P-12 list on the premits (The p-12 list is all mineral owners in the unit) Your easiest thing to do first is to ask lots of question to the landman you leased from. Who the operator you leased to drilling well in the John English?
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