We are getting offers every few months now. We have rights at section 32, township 162 north, range 99 west, Divide County. We have no interest in selling, our lease is with Irish oil but Baytex is named on one piece of paperwork...we just want to know what's going on...is there a way to find out if we will be drilled and do we need legal help? I hate feeling clueless! Does anyone have any suggestions.
Debbie are your minerals already leased by Irish Oil or is it an offer to lease? We just finished negotiating with Baytex Energy and bypassed Irish Oil. We are about 12 miles South and a little East. If you have already signed a lease, that will stand as is. If you have not signed a lease.........I would caution you to be VERY careful with Irish Oil.
Thanks for such a quick reply...We signed with Irish in January 2010...really didn't know anything then...the bonus agreement mentions Baytex...do you think that we need a lawyer?
Irish oil probably acted as landman for Baytex who seems to be the major operator in the area. The wells in your area don't seem to be exciting but Baytex keeps drilling them so they must find them worthwhile. 2 miles south of you there are two verticle wells In the Duperow formation that have had long lives and good production and I think it may be possible that you have Bakken and Duperow potential. It's a good thing. I do not see a permit for drilling your pool, sections 32 and 29 are spaced together as a 1280 acre. I think I can safely say you will be drilled but it might not be for a year or more. If your lease expires in a year or less, I'd be thinking about what I wanted to ask for in bonus and royalty for the next one. I have looked over Irish oils lease and it is pretty ugly to the mineral owner. If your lease expires, be sure to inform Irish oil/Baytex that it has. Clause #17 in the Irish oil lease basically says that if the lessee does anything wrong you have to inform them and give them 60 days to begin setting things to right, as if they were 5 year olds, you have to tell an oil company how to run their business to maintain a lease. Incredible !
Ms. Short, I think you would be wasting your money on a lawyer after you have signed and delivered the lease. If your lease expires, get a lawyer before you sign the next one. How long do you have before your lease expires ?
It looks like October 31, 2013 if I'm reading this right...I appreciate all the help. Deb
r w kennedy said:
Ms. Short, I think you would be wasting your money on a lawyer after you have signed and delivered the lease. If your lease expires, get a lawyer before you sign the next one. How long do you have before your lease expires ?