I have a Mineral Lease that expires soon. I am being offered a less than generous top lease and would like to know if I have other options. Can I negotiate a new lease at this time? I am concerned that there may be drilling soon and pooling could impact me. How do I find other parties that might be interested in leasing these Mineral Acres at this time? Any advice would be appreciated.
That section is getting some attention. There are various groups leasing. Brentwood Resources LLC, Uplift Leasing LLC, Sanguine Gas Exploration, Continental Resources, Clearwater Royalty et al, Feather Creek Resources, MK&P Energy LLC, Parker Investment Group, Quantum Resources LLC, Red Sky Resources, ScissorTail Resources, Summit Oil and Gas LLC, T3 Energy LLC, Windward Non-Operating have all filed leases in the last year. 1/4 is the highest royalty.
I am not a fan of top leases due to possible legal entanglements. An Overview of Recurring and Related Issues Involving Top Leasing.pdf (210.2 KB) I would tell potential lessees that I will start talking to them one week before the lease is due to expire, but not signing until after it expires. (Just my opinion) So I would wait until my lease expires and then see who is still left in the game. Make sure that your name and address are properly filed in the county courthouse so leasing agents can find you. Both Sanguine (Sycamore spacing well in 7 &18) and Continental (well in 6 & 7 Miss, Woodford,Hunton, Sycamore) have already filed OCC cases on the section. You should have already received the paperwork if they have your correct address. Continental already has a pooling case. It was supposed to have been heard on May 31, but there are many folks that have leases expiring after that-hence the push for the top leases so they don’t have to do a second one. I do not see that an order has been released yet on the first pooling. I have no problem with pooling and prefer it in many cases. The current pooling case is 202200251. It has 236 respondents. You might check to see if your name is on the list. Yes, you can negotiate a lease with someone else.
Thank you for the great information.
I would like to contact the companies you mentioned but can’t find their contact information online. Where would I find their email address/contact information?
The first place I would look besides a basic online search would be www.okcountyrecords.com. The leases that are filed would have their address on the lease. Free to look, a little bit to print.
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