Can anyone tell me what is the next step after signing a memorandum oil and gas lease?
I signed in June of 2011 and I still haven’t heard anything back. What is the next step?
Thank you.
HOLLY,
You get paid a bonus when you deliver the signed lease then the lessee records the Memorandum in the county, then you sit back and hope; pray if you like that one day a Division Order will show up. Not much you can do until then except check back if the lease expiration date comes around and one of us will see if a well was drilled on your minerals. If you get offers to sell, you will know that production is close.