Reasons Leases Aren't Renewed

Oil and Gas Leasing Help
21

where is your lease? I may have some suggestions for you.

Eve



mary said:

Thank you so much for the response. It just made me wonder why. One company had leased it in 07 after years and years of not even knowing I had them. I will just see what will happen .thanks again.
22

It is in Polk co tx. In the watts/ Cartwright survey. Thanks to all for info. I will for sure stay after them about the release. When I called them to do that she asked me if I had already been contacted by another company.

23

Hi Mary, in which state are you minerals in?

Thank you,

Ron Gollehon

rongollehon@gmail.com

mary said:

Thank you so much for the response. It just made me wonder why. One company had leased it in 07 after years and years of not even knowing I had them. I will just see what will happen .thanks again.
24

Polk co Texas

25

How many acres?



mary said:

Polk co Texas
26

I have 78 NMA

27

If one has a 3 yr lease with a 2 yr option and when nothing happens at end of third year…is that the time to ask for release of lease? Thanks

28

Thanks. I know when I first had the lease it was with meridian then within those first 3 years Alta. Mesa picked up meridian

29


Mike R said:

Mary,

As a follow-up to my previous comment, I also have minerals in north Angelina County. I had the minerals leased to Chesapeake until early last year under really bad lease terms (at the time when I leased in 2008, I didn’t understand the complexity of a mineral lease). However, I was glad that they let the lease expire and late last year I released to EOG Resources (and under much better terms since I was more knowledgeable). I would use the time that you’re unleased to educate yourself on good lease terms and also the drilling trends in your area (using this site, GoHaynesville Shale, and the TX RRC website).

Hopefully, you’ll have the same luck that I had.

Mike

30

Mike, Could you please give some comments on a few of the things that you improved regarding your lease terms. Thank you, Randall

31

Did they contact you or did you contact other companies? I hope some company will contact me. Thanks

32

Mary, send the company a written request to release the expired lease within 30 days, file it for record in Polk County, and send you a copy of the recorded document. Phone calls can be ignored. I also suggest keeping a copy of your signed letter and sending it certified mail, receipt requested. This way you have a record. I did this a couple of years ago and got a copy of the recorded release within 30 days. However, I did follow up with an email after two weeks of the company receiving my letter to check on the status of the release.

Be patient regarding leasing again. I recommend hiring a mineral manager to represent your interest. I have been playing the waiting game to lease my minerals for a couple of years on favorable terms and am confident that it will happen soon.

mary said:

Thanks for the info... I will call and make sure they had done the release on my minerals.
33

Thanks for the info. I called them to so the release but I will so what u suggest. Thanks for the info.

34

Thanks Mike for all the info…

35

If the company doesn't exercise their two year option by the expiration date in the third year, ask for a release in writing. For example if the three year term ends on July 31, 2012 and the company doesn't exercise its option to lease for the additional two years, demand a release of the expired lease.

Redriverdog said:

If one has a 3 yr lease with a 2 yr option and when nothing happens at end of third year....is that the time to ask for release of lease?
Thanks