My mother has mineral rights in moffat county, craig, colorado have been leased by Kaiser-Francis Oil for fifty years. There are two small gas wells that produce. Recently she has been contacted by R. Cooper at Coreland to get Kaiser to release the rest of the unused rights in another section back to her, as they believe there are large deposits of gas in these areas.
She is 88 years old and none of us know what to do. Any ideas? Thanks, DF Agee
Dear Mr.Agee,
That is a good strategy. There is an implied covenant to develop and if Kaiser is done with their developing, they should release the lands,
However, they may just say no, we do have plans. That is probably what they WILL say. Your recourse at that point is to take them to court.
Whomever R. Cooper is can do all of the paperwork. I promise that he has a plan.
My business advice is nothing ventured, nothing gained.
thank you,
I am not sure what we shall do at this point, Going to court in Colorado does not seem like a fun adventure, however! Thank you for your input, I do appreciate it. DF Agee
Why dont you persuade the new potential lessee to obtain the release for you at no cost or obligation to you. The new lessee would probably require that you have a signed agreement in hand with the entity prior to undertaking the time and expense to help you. The new potential lessee may or may not like this idea, however, if they want the lease enough they will do it.