Curious how you know or find out what is happening with the property you have agreed a lease for oil rights. Does the company who leased it from you keep you informed or is there a way to find out?
With our previous leases we were told nothing, not even when it expired. One time we had a gas well producing and the only way we heard about anything was when we would get a check from a different company. That lease was sold 3 times in 5 years. Our current lease was negotiated by an attorney and an addendum was written in that we would be notified within a period of weeks/days if they were going to drill.
If you have it in your lease that you be notified, then the company should do it. Lots of minerals are leased and no one ever drills. When you don't own the surfaces a well may be drilled before you know anything about it. What state are the minerals in?
Following...my lease will expire in 6 months and wondering if they will ask for another 2 year option.
Thanks for the info. The lease is in Loving Texas . Inherited it from great grandfather. Been contacted several times to purchase lease.