I have leased property to a company. Another company has offered to buy the property and said that the lease would not matter. How could it not matter?
They may mean that the existence of the lease was something that they were already aware of and it doesn’t change the purchase price. If the lease is still in it’s primary term or held by production, it sounds like they want to acquire the mineral interest, subject to the lease. An Operator would then be notified and need documented evidence of the transfer to change the new owner to be the recipient of any royalties going forward. Depending on your title status, they may need your assistance to cure any title issues.
Ryan is correct.
Another item to consider is any pending activity. Know what is about to happen before selling.
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Never forget to factor in capital gains tax issues.
Notice: Informational only. No attorney-client relationship is formed by this post. I am an Oklahoma-licensed attorney, but this is not legal advice. Do not share confidential facts in this public space.
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Stephens County Oklahoma 33-02s-04w, NW/4. As far as I know this is a pretty dry area. I have received no notifications of court activity.
The last lease I signed does not show up in OKCounty Records signed in 2025.
I would not be in a rush to sell in 33-2S-4W. There is active leasing in the section by Continental and others. Continental is developing a horizontal play just to the east of you in 34. They are drilling wells NW/SE over many sections into the Woodford. Wouldn’t be surprised if they move west to your sections.
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Thank you so much for this information. Is there a site that I can find this type of information? I am still very new at this, but I would love to learn more.
Many of the professional members on the site have subscriptions to various vendors that amalgamate information. We can get the info very quickly.
It is a good idea to get very familiar with the Oklahoma Corporation Commission website and their well data records and the Electronic Filing System for cases. That is where you can track wells and upcoming activity.
www.fracfocus.org is useful for following frac activity.
The Oklahoma Tax site is useful for production information. https://oktap.tax.ok.gov/oktap/web/_/. Use the Public PUN option.
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Thanks again for such knowledgeable and useful information.
This is true! a month or two before we received a division order we got calls from people wanting to buy our mineral rights.
Like any other real estate transaction, if the Purchaser buys the property that is subject to an existing lease, the Purchaser becomes the new owner of the real estate but must recognize (and abide) by the terms of the existing lease.