Does anyone know if, in Texas, if you choose not to sign a lease and then are force pooled do you forfit your opportunity to receive the lease bonus. I know that in Oklahoma you still have the opportunity the receive the lease bonus if you respond within a certain period of time (20 days) from the time you receive the pooling order.
Force pooling is almost impossible in Texas. VERY rare.
What happens if you don't sign the lease. Do you just miss out on the bonus?
Buddy Cotten said:
If you are unleased, there is no bonus to be paid. And unless your tract is the drillsite tract, you will not receive a share of production without a MIPA action.
For some reference on a complex issue, read these articles:
http://www.mineralrightsforum.com/profiles/blogs/rule-of-capture-regarding-oil
http://www.mineralrightsforum.com/profiles/blogs/the-basics-of-pooling-and
http://www.mineralrightsforum.com/profiles/blogs/pooling-in-texas-part-3
Thank you sir for your input.
Buddy Cotten said:
If you are unleased, there is no bonus to be paid. And unless your tract is the drillsite tract, you will not receive a share of production without a MIPA action.
For some reference on a complex issue, read these articles:
http://www.mineralrightsforum.com/profiles/blogs/rule-of-capture-re...
http://www.mineralrightsforum.com/profiles/blogs/the-basics-of-pool...
http://www.mineralrightsforum.com/profiles/blogs/pooling-in-texas-p...
Best,
what if a private cemetery is unleased apart of the drillsite when a heir sold the property the one acre was retained for the family heirs for use are to visit, on the rrc site it shows the are pooled and a square drawn for the cemetery, it says unleased, does that affect the heirs , the trucks are coming and going with oil all days long
nope. it is not part of the drillsite and it is unleased. The drillsite tract need not be in a perfect rectangle or square and there can certainly be doughnuts of 100% unleased acreage completely surrounded by the drillsite tract.