XTO has decided to let the mineral lease expire in garvin county S17T2nR3wsesenw and s2s2ne. Any suggestions on finding a new leasee?
That is a very common question in this forum. Generally, they will find you and make you an offer if they find the acreage to be prospective. More often than not, that is how it works, as opposed to the lessor finding a new lessee.
T.S. Dudley is leasing 9/40th's and $1500.00/acre in 2N 3W. Be sure to have a good exhibit A.
T.S. Dudley is what is called a lease broker. It is not an actual oil company. T.S. Dudley has moved on or retired, but the outfit still bears his name. The broker would be unable to make a unilateral decision about leasing outside of its authorized prospect area. They would likely need to contact their client company for permission.
If they are leasing in an area where you own minerals, they may be contacting you, or as the original reply indicated, more often than not, that is how it works.
Most major oil companies use lease brokers.
A reference was made to their client company. I would say that they would be the one leasing, and Dudley would be the one attempting to acquire the leases for the client company. Not really sure I understand the basis of the rebuttal or factoid, or how that would refute the statement that more often than not, that is how it works.