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I am wondering what would happen if you choose not to lease at all but rather voluntarily participate in the well. As an unleased mineral owner would you be able to participate in the well and 'cut-out' the royalty owner?
I am not familiar with Texas mineral law, maybe an expert will reply.
no expert here. it is my understanding in different interest type situations the person leasing the minerals does have an obligation by law to negotiate a good lease.
for example let's say there is an overriding interest. they would have no voice in the lease negotiations or the bonus money. they would however, be entitled to a fair lease agreement and payment.
that's what an old bear told me anyway...
kj
That is very true--it is called conveyance. MANY will send drafts, checks and paperwork; once someone signs this, it is considered that the minerals/royalty becomes rightfully theirs as by signing, etc. it is considered conveyed to the other person (s), Most of us receive these offers continuously. I have heard of people doing that and thinking they were getting a lease, etc. ONE HAS TO BE VERY CAUTIOUS AND NEVER SIGN---WHEN IN DOUBT, DON'T. IF ONE IS NOT KNOWLEDGEABLE, HE OR SHE NEEDS TO SEEK LEGAL ASSISTANCE.
We have MINERALS; when one get a well and begins production, it is then ROYALTY.
You have what they call a naked mineral interest. If you would like, send me this conveyance, I'd like to look at it. Croleyc@gmail.com
Clint
Thank you all for your insight. I am curious about Ellis' position. I guess I won't lease and we'll see if a WI opportunity presents itself. I will discuss with a TX O&G attorney before entering into any agreement or finalizing any course of action.
Thanks again for the info.
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