Hello! I've been going through some things of my parents and found a lease from 2005 with St. Mary Land & Exploration Company. The lease expired and I did file an Affidavit of Heirship with Coal County, but can anyone tell me 1) is there activity in the area described below? 2) is there some name to this area, a nickname, that I should refer to or just refer to the legal description? 3) should I proactively reach out to a company to see if they want to lease anything from me or just wait until someone comes to me, if that ever happens?
N/2 NW/4 and SE/4 NW/4 and NE/4 SW/4 NW/4 of Section 29, Township 3N, Range 9E, Coal County, OK
You would need to be more specific and list at least the township and range for Coal. Yes, there is horizontal activity. Are you asking about a check for a lease? Did you have a draft payment letter that had a timeline on it?
My 14 & 15 1N 8E lease with Greenwing just expired but we went round and round over their bonus payment terms. They demanded I sign their “Order of Payment” form which gave them 30 business days to pay bonus money. I refused. They finally sent me a check and I sent them an executed lease with my addendum.
I was told the head of Canyon Creek’s father is a lawyer, and he sets up a new LLC to lease for each area of interest.
I never give over a lease without getting a check. My accountant holds the lease until they hand over the check. I limit to 15 banking days with them. If they do not deliver the check, the lease is returned to me and negotiations have to begin again. I have spent a lot of time with them correcting leases and net acre amounts.