I inherited a small protion of non-participating royalty interest in a tract of land in Gonzales county, B.Lockhart survey A-36.
I signed a ratification with EOG last year and have heard nothing from them since. Recetntly I was offered money to lease 3/4 of my royalty interest aby US Shale.
I don't know if I'm still obligated to EOG. Is leasing a portion of my royalty rights the thing to do? Will they still drill if I don't?
Hopefully you already found your answer. In regards to mineral leases...if you are a non-participating royalty owner you do not negotiate any mineral leases, but only ratify leases that the mineral owner has signed. So you would get royalties, but not any initial bonus payments, shut in payments, etc.
I am an NPRI for two EOG units in Gonzales County that have been producing since early 2011. Let me know if you have any questions.
- Bill
That is pretty odd that both companies want you to lease a NPRI. My understanding of it is that you are bound to the lease that the mineral owner signs. Are you certain you own an NPRI and not a participating interest? Taking that money would be nice, but it may not be right and who knows what trouble it could cause later down the road. Maybe someobdy else has experience with this?