I have a mineral lease in Marshall Co WV that will expire June 24, 2013. I have heard nothing from anybody to see about releasing. Is this unusual, or do they usually wait until it has expired?
Sandra:
I am not familiar with the WV area as my interests are in the ND/MT areas but I am familiar with the leasing process. You have options such as contacting your existing lessor or waiting until you are contacted by someone in regards to negotiating a new lease. Most likely, the current lessor is aware that the lease has expired and may not wish to enter another lease. This can be learned by contacting the land department of the current lessor. If you are located in active area, most likely you will be contacted in the near future as landmen are always researching records at the County Clerks office for expired or nearing expiring leases in active areas. Be sure to do some research of your own in regards to the current bonus and royalty amounts being negotiated for your area before entering into new lease agreements.
Thank you. This is definitely an active area. I will wait awhile and see if anyone calls.