Last year I signed leases with a land company. I was looking on the County recorder info site I found that on 4/10/2013 they assigned this to a Energy production company.
So is this the next step to drilling? or what steps will follow ?
James:
This is a very common practice in the oil and gas leasing business. Energy Production Company, will either hold their share of the spacing unit or decide to actually drill depending on the % of the unit they have acquired. They may sit back and observe the results of any drilling in the area prior to making a decision to drill. Bottom line, all you can do as a mineral owner is stay abreast of the current drilling results for the area as this will be the major incentive to any future drilling. Keep in mind, Energy Production might not be the company actually drilling as they may elect to participate in any future wells.
Thanks for your reply