I signed a lease with oil company (1) with production computed 3/16 at the wellhead. The whole section was later pooled by oil company (2) who drilled a producing well on the 640 acre pooled section. How does this effect my initial lease with oil company #1. Does the pooling negate the provisions of my original lease?
If you were leased you were not technically pooled.
You now share income with others in the pool. Did you sign a separate pooling agreement?
Wade Caldwell said:
You now share income with others in the pool. Did you sign a separate pooling agreement? No I did not.
No I did not because I assumed a lease was, just that, a lease, signed by and agreed to by two parties. I'm still learning.
The pooling does not negate your lease. It just means you have to share the income with others in the pool.