How do I find out if our Gas lease in Pecos County is still active (079901). We recently were approached by a Landman for a new lease proposal. We didn’t get any notification that the current lease had expired.
The Lessee doesn’t notify you that the lease expired. If you have a copy of the lease it states the effective date it began and the lease term, typically 3 to 5 years. If you don’t have the lease agreement you may have to check the County deed records for that information.
If your lease included an extension option the Lessee would have paid additional bonus, or met other requirements, in order to extend the term. If that didn’t happen, and you are now beyond the term stated in the lease, the only way it could still be active is if your acreage is included in a producing unit, or there are current drilling operations that includes your acreage.
Thank you. We don’t have a copy which is part of the problem. The only one we could find was from 1974 - but not sure if that’s the right one. I’m helping my mom and aunt sort out what’s happening with the surface and mineral rights they inherited.
We received an offer from a Landman for a new lease several weeks ago and don’t know if it’s reasonable or legit.
I would see what information you can get from the Landman as it appears he has searched the records to get your name and address.
The landman thinks that you are clear to lease, so ask him how many net acres he is looking at and under what name, also what book and page the last lease can be found at.
Most first offers to lease tend to be lowball but might go up if asked. The original drafts are not usually in the mineral owners’ favor. Always good to get an oil and gas attorney to go over the lease and suggest improvements if you have not leased in a while.
Thanks. Would the book and page be what I would ask the County Clerk if I wanted a copy?
How much would we expect to pay for an attorney to look at the lease?
You may be able to find the lease by using www.texasfile.com Or ask the county clerk for a copy.
You would have to ask an attorney that question about looking at a lease.