Can forced Mipa Pool be removed in Texas?
MIPA is the Mineral Interest Pooling Act which is a statute that has rarely been used in Texas. Recently Colgate has formed units underlying City of Pecos in Reeves County using MIPA with approval by the RRC which set limitations on the units. It was used because of the many tiny lots in the city to allow the wells to be fracked all along the horizontal wellbores. This was a very expensive process, in part because of the title work to find the owners. I understand that Colgate has given all the mineral owners the option of being in a single well or in the entire unit and receiving royalties. There may be plans to form MIPA units under other cities. What would be your specific legal or financial objection to be included in a MIPA unit and receiving royalties? I doubt that you would prevail in a court trying to undo the MIPA units approved by the RRC. And it not likely that the Texas legislature will revoke MIPA.
Cantaloupe has sent us heirs a division order and w-9 to fill out and return to them. They informed me that I currently own an interest under the Cantaloupe and the well is producing Gas and Oil! I understood by your reply back to me that I would benefit by staying in the forced MIPA. So if plans to form other units under other cities my Royalties would possibly increase more than the 25% offered because I am in Pool correct? Also, in the same letter offered to purchase our mineral interest for $20,000 per net mineral acre? Ours are 2 small lots on South side of Pecos. I would appreciate any advice. Thank You, Peggy