We’re located in Sec. 12 T11N R12W Desoto Parish. Our 3-year lease is expiring in September with the 2-year option. The company that we are leased with has not drilled, but another company had a hearing for a permit in March 2010, and they haven't drilled either . Encana is drilling a well in the lower southwest corner, but bores into section 13, and we were told they will receive the royalties. Does this mean that we are force pooled or unitized? What affect will this have on the lease renewal? Also, this section falls in the lignite mine area. Could this be the reason no one has drilled yet? If the company renews our lease for another 2 years, will it be at the same amount of money that was paid for the 3-year lease? Can this company allow the lease to expire after 3 years and come back later and lease again for a different amount?
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thanks Skip Peel for that information you have been very helpful with this.
thanks again
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AboutAs 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 |
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