Can anyone help me with this!
My land is producing condensates in large numbers. Crude Oil never shows up on my royalty checks. When i call my oil company they tell me that the land is producing oil in very large numbers. When i look at the RRC site i can see thethe properties next to mine have wells that are labeled as Oil Wells. Mine are labeled as gas wells. I understand that condensates are a type of lite oil but very confused how condensates pay out the same as the current price of crude oil.
Is it standard practice for the lease income to stop after wells are drilled on your property. It seems that the Oil Company should still have to lease the property in order to drill on it.