Three year lease with a two year option to renew

Good evening Since the borders are closed how can I get hold of the company that are leasing our mineral rights. We are in divide county

T163n r98w 5thpm Section 3 lots 1(40.37) 2 (40.31) s2ne And T164N R98w 5thpm Section 34 NE

Have you already leased or are you in discussions with them? If you already leased, the name and address of the company is in the first paragraph of the lease. You can look up the name of the company on various search engines and find their contact information on their website.

I looked those two sections up and the main lessee in the area was Paramount Field Services LLC. 1756 South Utica Avenue, Tulsa OK 74104. If this is not the company, then you would have to share the name in order for someone to help you.

Just in case your real question is “when are you going to drill?”, there are no pending permits at this time.

Thanks for your help. Yes the company is right. I found my agreement. We were wondering how to we find out if the are picking up the two year lease since the first three years are up and the company had the option for two more years. Thanks

If the lease has expired in the primary term with no drilling and they did not contact you before the end of the primary term, then they are probably not going to pick up the option. You can contact them to find out.

I generally wait for the first lease term to expire and then negotiate another lease provided the terms offered are worth my time. It is annoying when they don’t drill during the initial term.

When a lease expires how many of you request or search the county records for a recorded release? By obtaining a copy there is no question if the property is open and available.

I dont find it super annoying if a lease isnt developed so is the glass half full or half empty. I have on OK property that has been leased three times and no one has depleted the possible reserves. The lease bonus amounts have far offset the purchase and recording costs. It`s not all roses because I have others that are the complete opposite with no action. Some of these were the leftovers in buy it all or nothing.

Thanks I will look into getting a release from the county.

My experience over the years is that the lessees often don’t bother recording the lease until they are getting ready to drill. At least I have not always been able to find the leases in the public records.

As far as expired leases, I have never worried too much about that. I am careful that there is a set lease date and a set term, and then just do the math. Never do I let them start a lease upon the expiration of another, so that the lease term calculation could be in dispute. I also try to keep the term at 3 years with no automatic extensions. I don’t sign a new lease with the same company until after the old one has expired - best to let them wonder if there is some competition out there.

Most of the time, this is no a problem as the initial lessee just disappears and a few years later someone new makes an offer. I periodically check the state sites to see if there are any drilling permits or drilling nearby.

My pet peeve lately is a lot of these companies realize the leasing situation is largely shut down, the economy stinks and a lot of people are broke, so they sweep in with lowball offers to purchase. One recent one packaged a couple good section fractions with a couple that few out of lease 5 years ago. On the lesser ones, they offered me about $500 and $1,500 (less than lease bonuses in the past). I’ll eat peanut butter and jelly sandwiches for dinner for the rest of my life rather than sell to them.

I can not find the number or email to send to the divide county to get a copy of the released lease agreement. Can anyone help me out with this issue. Thanks

Go to the following site to reach every courthouse across the US.

Search for divide County ND has county records on line. They charge . A 30 day subscription will cost $30.

It works , I have used them. Be sure and check which counties are not participants. Most are but some are not.