General Question about Leases

Hi,

My family owns some oil and mineral rights in Sumatra, Mt. Rosebud County which an oil company currently holds the lease. The lease is due to expire in 2021. The oil company has some producing well in the area, but the company has not drilled our area. However, there’s a company that has drilled productive wells very very close to ours. My question is, once our lease has expired, would it be advisable for me to contact the company that has producing wells close to our acreage to solicit interest in them leasing our interests? Thank you in advance. Dianne

You could try, but in general, companies will find you if they are interested. Budgets are quite tight right now, so leasing may be slow in coming until oil prices go up.

Thank you for the information!