7 mineral rights owners - two oil companies have offered leases
One of the mineral right owners has signed a most inferior lease and deposited the draft/check. Did not inform the others and signed before any family discussion. Does it obligate the others? montana, richland county
How to get out of this?
Dear Ms. Johnson,
If you rights are not inextricably linked to the other mineral rights owner (such as the other mineral right owner owning the executive rights), then your interest stands alone and the other mineral right owner cannot obligate nor bind you in any way.
There is nothing to get out of.
This has been a really confusing issue with me even though everyone I have spoken to says don’t worry about it. I’ll try to explain. If you have a 50% mineral interest in a track of land and you sign but the other 50% owner does not sign- how can an oil/gas company drill on that site? It seems to me that half the oil and gas taken out of the area would belong to the other 50% owner who never signed anything. Where am I wrong on all this and how are such situations handled?
Hi Mr. Scott, can I have your email address?
David Scott said:
This has been a really confusing issue with me even though everyone I have spoken to says don’t worry about it. I’ll try to explain. If you have a 50% mineral interest in a track of land and you sign but the other 50% owner does not sign- how can an oil/gas company drill on that site? It seems to me that half the oil and gas taken out of the area would belong to the other 50% owner who never signed anything. Where am I wrong on all this and how are such situations handled?