Can anyone tell me if an oil/gas company is required to record a release on an oil and gas lease once production has stopped. My father signed an 80 acre lease with a company back in 1980. There was only one well that produced on this 80 acres and it has since been plugged. The plugging record has been recorded with the Oklahoma Corporation Commission as well. I have someone interested in leasing these mineral interest again and are going to do a title search before hand. They expressed an interest in having a release filed from the previous oil/gas company. I called the company that held the previous lease and requested a release be filed by them. They told me that was a very uncommon thing to do . They do not want to do this and I don't know if it is a big deal or not. The new leasing agent is aware of the plugging report - does he really need a release filed to finalize our current negotiations?
Any information is greatly appreciated!!!
Thank you - Linda