Let’s say the company that leased your minerals has an option right to extend the lease on your property for two years. And they choose not to exercise this option because they no longer are focused on your area.
Why wouldn’t they sell/assign the option right to another company and make some money in the process? Or alternatively exercise the option themselves and then sell/assign the extended lease? Wouldn’t it be win-win for both companies? The current company would get cash they otherwise would not receive if they simply let the lease expire, and the new company would get a two year lease at presumably below today’s lease rates? (Assuming the option price per acre is market rate from a few years back).
Does this sort of thing happen? If not, what prevents it?