If they drilled a well during the primary term you didn't specify and then "abandoned" it until last week when they started drilling again as you mentioned then they will may claim the initial well was capable of production the entire time, but simply "shut in" and therefore DID extend the lease into a "secondary term".
If there is such an extension clause in the lease, they will likely also owe you a "bonus consideration" on a per-acre basis equal to that they paid the previous owner when it was leased five years ago.
In any case, YES, they should give you the lease back, but if you really don't own anything there it's not the end of the world if they don't return it but they should be willing to anyway What do you think?
We were contacted by McLinn Land Services to lease mineral rights. I do not own the oil and gas mineral rights below the surface of my property; nor, I suspect, do my neighbors own theirs. If you do decide to sell, I The Mineral Hub could help find a suitable buyer for you no cost to you Offers to purchase received.
There is no charge. You will probably just have to wait them out. You can probably find their contact info online and go from there.
If you're not sure your contact info can be found in the county clerk's records from an old lease or deed or other document already filed there you might consider filing a "notice of address" or similar document that contains your current contact information, but in most cases the oil companies are pretty good at finding and contacting mineral owners in areas they are interested in leasing.
Buyers who put this "past royalty" language into their deeds would be entitled to any suspended funds. You could also ask the oil company to issue you a check for just your share, but I doubt they will do that if you are in fact JTIC. My brother and I are joint tenants and have received a check from the oil company.
Our rights are leased already by a different company than the ones that are applying for relief. Have an attorney draw it up if you go for the "after payout" option.
You can search Google easily enough for what is required to terminate a joint tenancy. You could technically contact companies that may be leasing in the area on your own by searching the county clerk's records for your township and range to see which companies, if any, have filed leases in your area recently, but in most cases it's better to wait until they contact you as that puts you in a better bargaining position in most cases you have something you know they want because they contacted you first.
What is the process? All data and information provided on these pages, while believed to be accurate, is nonetheless provided for informational purposes only and thus should not be relied upon as a legal opinion, legal advice, or investment advice. Participating in the drilling of a well by paying your proportionate share of the estimated drilling costs If you are already getting royalty checks then please include a copy of your most recent royalty check stub.
Would love to sell asap.
This is what we are currently going through now. I'd hang on to them unless you really need the money. Some will charge as much as they think they can get away with, and you may never be the wiser because they will make sure you never see it directly. It was sloppy of them to not verify your ownership prior to paying you though.
Is there an increase of activity there or are people bargain hunting? Once the term i. Can all three be drill in the same area and how does that affect us as mineral rights owners?
I did some deed searching and added several clauses I copied from other deeds I researched. In my parents trust settlement the following occurred, She wanted the farm so she was to pay me for half the appraised value of the acreage.
Luckily MOST companies do not blatantly rip off their royalty owners, but there are certainly some that do so be vigilant.
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A: You could find out who currently owns the mineral rights under the property by searching the land records at the county clerk's office, or online.
In lieu of that you could contact a local abstract office and have them do the search for you. The county clerk's records can be searched for free however so I'd.
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