I'm new to oil and gas leasing and new to this forum. I apologize if my questions have answered elsewhere. If so, please direct me where I need to go.
A short history of how I came to be here. A few years ago I was deeded a portion of an estate that contained mineral rights acreage in North Dakota and Montana. At the time that I was deeded the properties the Montana property had already been leased by the trust department of the bank handling the estate. The North Dakota property was not leased, but I have leased most of the acreage there myself a couple of years ago.
The lease for the property in Montana ran out in June of this year. I had a call a couple of months ago from someone interested in leasing the property. We spoke about terms and I expected to get paperwork from him in the mail. I called him back a few weeks later and he explained that there was a Continuous Drilling Clause in the previous lease. Honestly I had no idea what terms were called for in the lease because I was never given this information when the property was deeded.
I have many questions to ask but I'll stick to a couple for now. How can I find out who the lease holder was and who is drilling on the property? How long can an oil company drill on a property that is no longer under lease?
I great appreciate any insights that I can glean from this group.