Currently have oil lease below 8500 ft and production. Top lease, executed 1980, above 8500 ft set to expire due to lack of production. Does this mean the top can be released?
Once the Lease from the surface to 8,500 feet expires, then yes.
I can be released, which actually means that the company that held it signs a Release of Lease on it to cure your title. And it can be Re-Leased to a new company.
The word is a pain.
Charles Emery Tooke III
Certified Professional Landman
Fort Worth, Texas
M Baxter,
You are one smart dude or dudette,
Check the terms of the lower lease for preferential rights to lease the upper zones. If none, request a recordable release from the upper lessee/operator, record it, and wait for the action to begin.
Gary L Hutchinson
Minerals Managment
Thank you for the information. Yea!
Thank you for the information, especially about the preferential rights. I will check my lease for that info. M Baxter
Where is your property? I have friends that lease lands.
Burleson county.
Post the Legal Description and I should be able to send you a map and table of who is leasing around your lands.
And don't demand a Release from the current Lessee until after the existing Lease expires.
As a matter of fact, let the new Lessee request it. Less aggravation for you.
OK. Thanks for the info. I don't have the legal handy. In safety deposit box. I've been told that after a well is plugged, the current lessee has 90 days to drill..........
If you know the Surface Owner's name or the Operator and name of the Well, I can look it up that way.
Enjoy your weekend - hope your team wins!
I need some time on this. But, thanks for your interest.
I'm good. And not buying or leasing.