I recently inherited some mineral rights in Grady County; SEC 21-T7N-R6W and SEC 20-T007N-R006W. There is a current lease with Continental Resources (CR); the lease basically says it’s for 3 years (signed in 2008), but also says that it’s until CR stops drilling at 3/16th. So, I am basically stuck with a lease that my Grandmother signed? Which just doesn’t sound right to me, but what do I know. In addition, I was sent the Division Orders, but I never signed them I just sent in my W9 form and then they began paying me the monthly royalties.
Anyway, I am not entirely sure what I need to know, but thought maybe some vets could give me some pointers on how to handle these mineral rights. Are there any loopholes in the lease I can use to renegotiate? I just want to ensure I am not being taken advantage of.
Thank you in advance for your insight!