Charles,
Thanks for your reply, I think my great-grandparents signed the original leases back in 1950 and 1965–there are no Expiration Date; instead it has IP. The location is: Township 29 North, 50 East, Section 12, Roosevelt County, Montana, this is an oil field north of Poplar, Montana–it’s been there for a lot of years.
I did talk to the landman (different company) a month ago, they offered a new oil lease for a different land location in Roosevelt County, she told me the old wells that were north of Poplar were going to be “reworked” by those oil companies and updated to where production would go up. The only thing I’ve noticed is that the oil company changes every few years on the old 1950/1965 leases but the rate never does. It just puzzles me a lot.
charles s mallory said:
Miss SC:
From what you have stated, I would say that the terms of each lease stands on its own and is not eligible for changes unless there is a loophole in the leases which could be utilized. You didn’t state where these minerals are located but if they exist in a shale play area, new wells could be drilled and then new leases for these new wells could be negotiated.