Since I inherited these minerals from an uncle that left these to the cousin’s, that I don’t know, what if they don’t sign. So far I’m the only one that signed.
Sign what exactly? An oil & gas lease? A little more context into the situation you are describing will help us help you.
Yes a lease in Carlsbad, NM
Since the minerals were left to each cousin individually you will not be affected if they don’t sign. A company can still come drill an oil well even if some of the mineral owners refuse to sign. They will be forced pooled when the time comes for the well to be drilled and will have to make a decision whether they want to participate in the drilling of the well or accept lease terms. Don’t worry about your other cousins not signing, it won’t affect you in any way. Please let me know if you have follow up questions.
Good to know. Thanks Cam.
Just4Grins…the mineral rights laws in New Mexico are administered differently than the laws and guidelines
of the RailRoad Commission in Texas.
Always get a lawyer to help you in your negotiations…and have him/her demand the oil and gas company
pay all legal fees of both parties to the lease agreement. Then it won’t cost you, but you are legally
represented and in a much more powerful and ‘safe’ position. That’s my advice.
ol’ Lawrence in Verhalen, Tx