Expiring lease
I am due to begin receiving royalty payments very close to the time my lease expires. Since that company owns the well can anyone tell me how that affects my bargaining power for a new lease?
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Permalink Reply by True Texan on -
What I'm getting from your post is that you had a lease with a company and they drilled a well. Now you are going to get royalty payments from that well.
If this is correct then your lease will be held by production. (HBP) What that means is the lease is not going to be renewed. The lease is still in effect till they close that well. The only thing you have to look forward to now on this lease is the royalty payments for what ever they take out of the gound. -
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