Replies to This Discussion

Permalink Reply by r.w. on July 20, 2008 at 18:05

They've got you for two more years if they pay or produce before the expiration date. I am in the same boat.

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Permalink Reply by Shelia on July 21, 2008 at 0:19

I'm in the same fix except I think ours was leased for 100 years back in the mid fifties.

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Oil & Gas ProPermalink Reply by Two Dogs, Pirate on July 21, 2008 at 5:19

A lease for more than 10 years is not valid in Louisiana.

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Permalink Reply by Jaw on July 21, 2008 at 9:07

I thought it was valid as long as they had a producing well on the property.

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Oil & Gas ProPermalink Reply by Two Dogs, Pirate on July 21, 2008 at 9:14

A producing well will hold a lease for as long as the well produces.

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Permalink Reply by CBT on July 21, 2008 at 8:18

We have a clause in our lease that reads "if at any time within the term of this lease the Lessor is granted an addtional lease (top lease), Lessee shall have the option of meeting any such offer to top lease." What exactly does this mean? Is it a possible recourse to lease our land for more than the original $100 p. acre as the contract reads? I've read the board re: top lease and am not sure I quite understand.

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Oil & Gas ProPermalink Reply by Two Dogs, Pirate on July 21, 2008 at 9:24

It means that you have to give the lease holder the chance to meet the same terms of the top leaser. The dates are in a computer and in a certain time frame a flag will pop up and alert the lease holder of the expiration date giving the company time to contact you about renewing the lease. Lets say that the flag pops up 90 days in advance of expiration then they contact you about an extension of the lease but if a top lease is granted 95 days before expiration then the original lease holder is dead in the water. This clause prevents this from happening.

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