We are waiting to get a Division Order - we are 1/2 mineral owner - the other 1/2 belongs to the surface owner.
DOES our division order reflect what is in the Lease that the surface right owner signed??
We are new to this and I have heard conflicting stories.
Thank you.
Dear Mr. Haas,
I have seen them both ways. Some show only your interest, some show all the interest in the lease or pool. Your interests will be different if the royalty rate is not identical on each lease.
In the Deed it states we retained 1/2 of the minerals. The lease that was signed by the surface owner states he gets 1/5th and other language goes into if the royalty is not paid by a certain timeline, etc… There is interest due, etc… Are we entitled to the interest and other provisions stated in the lease?? We have 66 acres out of a pooling of 360 acres. Thank you. Sherry
did you sign a lease? or are you a non-executive?
No we did not sign the lease. Land owner did.
If the surface owner owns the executive rights (rights to sign a lease) for your 1/2 mineral interest, then yes, your Division Order will incorporate a lease royalty agreed to by the surface guy.