Posted by Cathy on February 18, 2005 at 15:15:04:
The lease we have is for pooling 240 acres+, on a gas well, and the check se get averages 125.00 per month. I’m wondering why such a small amount to have such a large acreage in in the pool. Is there a min. amount that a company must pump, for a land owner to have the land lease to them or can they just pump what ever they want. The land is tied to a company that obviously can’t produce.?? Your thoughts on this???
Cathy
Oil/Gas Leases, Royalties and Working Interests - Posted by LisaQ
Posted by LisaQ on December 07, 2004 at 09:49:18:
Mineral rights are real estate, but can’t find any forum who discusses these issues. Does anyone know a good web site for research on this subject?
What is the typical term for a small sized property oil/gas lease? I’ve inherited an old lease, it’s original term was 3 yrs and after 3 yrs it appears only royalty interest is paid, a very, very small percentage. Is there any way to break the lease? Is that ever done?
Re: Oil/Gas Leases, - Posted by Cathy Self
Posted by Cathy Self on February 03, 2005 at 11:47:01:
Lisa, When I read your inquiry, it sounds like the same predicament I’m in. Such a small amount of royaly to tie up the land.I have been look also to see about breaking this perpetual lease and so far Have no answers. I will keep you in mind and let you know if I come up with anything
Good Luck
Cathy
Re: Oil/Gas Leases, - Posted by LisaQ
Posted by LisaQ on February 14, 2005 at 19:28:29:
I have since found an association of royalty owners, and they have a good forum at http://www.naro-us.org/discus/messages/board-topics.html
Re: Oil/Gas Leases, - Posted by mt
Posted by mt on February 17, 2005 at 07:36:37:
seems as though I read something about a company has to act as a prudent operator in developing the lease and the lease may be terminated as a result but it is costly. You mention the land being tied up for royalty, assuming you mean the Oil and gas rights. (These are separate from surface land) You may also own a share and be getting a percentage of the original. Very hard to track down, but one way to go is to contact the company that is sending you the royalty check and talk to them about further development. Once you make that contact (nice to follow up in writing with registered letter if you get no action) they have a responsibilty to act on preperly developing the site. If you are one of several owners, you may still act to develop without consent of other owners. This info may not be totally accurate, I am learning as I go. One site I have been checking out is http://www.mosburgoil-gas.com/html/mosburg_primer_gba5_11_97_2a.html You could just type the first part of this URL (stop at com)…Good luck…I am going to check out the forum