If I'm negotiating with a company but they are not interested in giving me nothing what I want out of the deal and they said they are giving me a deadline and If I can't come to their agreement they said that they will go to some state board and try to pool me in and I may end up with nothing, so can they do that are is it a bluff.
The correct answer is going to depend on the state in which the mineral rights are located.
its located in Mississippi. and also I wanted to know if there is a good chance for me to call other drilling oil companies in.
Rick Howell said:
The correct answer is going to depend on the state in which the mineral rights are located.
I don't have a good handle on Missippi forced pooling laws but if you have been forced pooled, you can be sure your option to lease ends.
If you want to lease at better terms you need to find someone to lease you, company or private investor that may want to participate in the well for your interest. I would say act soon because waiting is not in your favor. If there is established production with people getting fat checks in the area now, it will be much easier to find someone who would want to participate.
I have had landmen try and pull the forced pooling card on me fairly early in negotiations because it sounds fairly ominous but it may not be as bad as they like to make out. I recommend you find and read the law and regulations on forced pooling for Missippi.
Keith Evans said:
its located in Mississippi. and also I wanted to know if there is a good chance for me to call other drilling oil companies in.
Rick Howell said:The correct answer is going to depend on the state in which the mineral rights are located.