Oil company fails to pay within the 60 days

Oil and Gas Leasing Help
1

What do we do when the oil company fails to pay within the 60 days of a contract and sends payment for less than the acres agreed to? Is this still a valid lease?

  • Original lease was for 120 days but both sides initialed the 60-day edit.
  • Check for amount of much less was cut just less than 120 days but received a month after and beyond the 120 span.

Where do we go from here?

2

The title work may have indicated that you have less net mineral acres than you thought you had. Ask the agent why the funds were less. See if the lease has been filed in the county.

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