Inadequate pay for lease renewel

Laura Miser · 2019-10-01T19:27:37Z

My family was involved in a lease agreement in which the original oil company sold the lease off to another company. There was no variance on the offers despite different generations being involved bc at total there was around 300 of us and we were all offered the same amount bc of the large number involved. We leased for five years and were contacted by the new company at the end of the term about releasing for an additional three years as per the original contract. All original contract holders were paid the same and signed the same contract. The new company is dividing shares down even further than in the original lease and the amount listed to pay per acre for release does not add up to the amounts being received. Is this common within the oil and gas industry to avoid making full payment or obligation on sold out leases. Can I demand to see distribution of payment on the land from said company?

Oil and Gas Leasing Help

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