Oil lease from 1950 - possibility to renegotiate

Miss SC · 2011-04-20T23:15:06Z

I inherited some mineral rights and have been getting monthly royalty checks, I recently found out the royalty rate is 12%, the date of lease is Oct. 1950. There has been up to 4 oil wells that produced in the past, the past few years there's still one well producing consistently and I'm not sure if there is a 2nd well--I found another lease# on the monthly paperwork I get--that one has 16% Royalty Rate with Date of Lease June 1965. Is there any way to redo/renegotiate these 2 oil leases into the recent rates?

Oil and Gas Leasing Help

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