Does anyone have any information on GCMS Oil, LLC?
I have an Oil and Gas lease dated 1943 which was originally granted in contemplation for the development of “oil” rights on the lands covered by this lease.
GCMS Oil, LLC, as operator of the Columbus Field Unit, in Colorado County, Texas, is contemplating additional development in this area including the possibility of drilling additional wells in search of natural gas.
The landman has sent an “Amendment of Oil, Gas and Mineral Lease” covering the tract. This instrument amends the pooling provision of the lease to allow for the development of the “gas” rights under these lands.
What sort of compensation should I receive, if any, for signing an amendment to an oil and gas lease?
Just curious as to anyone’s thoughts on this matter.
Recommend that you have an attorney look at the old lease and help in negotiate a new lease for the deeper part-if you can. You may be able to get better terms.
Thanks for your advice. At this point I am waiting on more info. An attorney will be the best route. Do you know of any oil and gas attorneys in or around Colorado County?
There are several Texas attorneys listed in the Directories tab above. The attorney does not have to be from Colorado County. If you prefer that they are, then go to the Texas Bar Association and look for oil and gas focus and Colorado County.