Our oil and gas lease in Stark County, North Dakota expired in July. Do we need to do anything to have the lease record removed, or does it matter? Any information would be much appreciated.
Bill:
If a landman is researching records at the County Clerk's office, they should reflect the information regarding the lease expiration date.
Thank you Charles, I appreciate the response.
Bill,
Living in NV, and with considerable activity in parts of Stark County, ND, you may want to send a Certified, RRR letter to the Lessee on the lease, or assignee if you have been notified of an assignment(s) telling them that your records show the lease to be expired and provide an place for the recipient to acknowledge and return to you.
If your lease has been unitized and lease continuation provision met, you will be notified in short order. You will have constructive notice one way or the other. If a Division Order shows up, you may have an extra large chip at the poker table.
Thank you Gary, we will certainly do this.