My family has leased out mineral rights on a tract in Leon County for decades. We only have mineral rights, no tract. The latest was a five year term that expires in September/2026, with an option for a two year extension. Comstock just sent paperwork stating that gas production has begun. They are confirming name/address, etc. Along with a W-9 and direct deposit info. My question: Does the lease cover only the exploration aspect, and once production begins, what becomes of our status? In other words, are we in for the duration of the production?
Review your lease. Most have an initial term and then an extended term if oil or gas is produced in paying quantities before the initial term expires. If Comstock has indeed begun production, then you are in the extended term which will last as long as there is production in paying quantities.
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Thank You!