I have received more offers for my mineral rights which I don't want to sell, but in looking up the company I leased to -Veritas 321 Energy Partners- has merged and now become Double Eagle Energy. I then found another article that said Parsley Energy has bought that one and has the capital to put in 20 horizontal wells. My last inquiry on here informed me that several wells were in production in the section and block next to mine. I have not been contacted by any of these companies about the changes. I would also like to know what one might expect in income if a well is drilled and is producing. Any comments appreciated.
Becky Garth
Becky, what section and Block are you in?
Becky, Generally, lessees are not required to tell you when they sell or acquire leases unless you have specific language in your lease that requires them to do so. That is why mineral owners need to seek expert legal advice when leasing. Owners tend to just look at the royalty and bonus and don't realize the entire lease is important. However, even if your lease requires they notify you, they might not do so anyway. That happened to me in a prior lease I had made. Some companies completely ignore such a requirement saying you have not really been damaged by their failure to notify you. You probably won't know who is your current lessee until a permit has been issued or when you receive a division order.
I can't give you an estimate of income you might receive if a well is drilled. There are too many variables to forecast this. It depends upon the amount of minerals you own, the royalty rate in the lease and the results of the well. Well production can vary greatly between wells.