Hi - we inherited mineral rights and aren’t very familiar with the process. We thought all our land was leased so this was a surprise. Is it safe to assume that they did their research and this land is not leased? Thank you for your help.
We cannot help unless you give us a state, county and location.
Your lease may have had a depth clause and you are open at a different level. Or you might have a different parcel that is currently of interest and not leased.
Personally, I would not assume that everyone does their research well. Sometimes offers are just bulk mailed without title work being done.
If you care to share more information, we may be able to help point you in the right direction.
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Thank you! It is in Colorado, township 7 north, range 63 west 6th pm Weld county Section 27:SE/4. Really appreciate your help!
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You may have been leased at some time, but the old shallow wells that were permitted to be drilled have been cancelled, so the lease has probably expired. The next set of wells were eight horizontal wells planned by Chevron. They were permitted in 2018, and have also been cancelled. Those leases have probably also expired since it is now seven years later. Hence, you are probably now open to be leased.
I do not see any leases filed in 27 yet, but there are quite a few in 28. Several companies are leasing. I see a range of royalties from 1/6yh to 21.5%. I prefer the highest royalty, especially with horizontal wells as they can last decades. Would be wise to get a good oil and gas attorney to review any draft lease as they are rarely in the mineral owner’s favor.
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We had it reviewed by our oil and gas person and she says its held by production OGL 3687535. Does that mean anything to you? Thank you.
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Ask her to explain what the number means. It may be a lease code at the county courthouse, or it may be an internal company lease number. Ask her where she found the information and what wells are holding the lease. Ask for how to find a copy of the lease for your files.
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Will do, thank you so much for your help
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