Good Lease/Bad Lease

Was wondering if you could help me.  A friend of mine signed a gas lease approximately 2 years ago individually but their property has been in a Partnership for 30 years.  Is this a good lease or a bad lease? Could this be a way for the company to force pool?  Total acreage is about 400 acres.

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Oil & Gas ProPermalink Reply by The_Baron on April 28, 2010 at 4:28
Not enough information to say. Was the individual a partner who had athority to sign? Were the minerals still with the surface? What State?

Also would need to see the lease.
Permalink Reply by Woodard on April 28, 2010 at 4:57
Yes, the individual is a partner in the Partnership but didn't understand the lease needed to be written up under the Partnership not individual with all the siblings. Yes, the minerals are still with the surface. Louisiana.

Oil & Gas ProPermalink Reply by The_Baron on April 28, 2010 at 5:38
If he had the ability to sign on behalf of the partnership, There is a good chance the lease is valid. If I was the one who bought the lease, I would want a ratification by the partnership.

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