Hi , was contacted by Tug Hill about leasing mineral rights . Come to find out there is a Well already on property. (not sure if producing), was informed that they could not lease because of historical lease . Is there someone that could give me info on this ? I have received money from a lease in the past .
It might be worth digging in to the title on the property. You could find out whether there is actually a well still on the property or not. If there is and it has been producing, the old lease will still be effective. Then Tug Hill will only ask you for a modification of the old lease. If there is not, or if it hasn’t been producing, then you should be negotiating a new lease.
Thank you Kyle . I will look into going that route .