Prior to its acceptance, in Texas, can an oil company rescind their lease offer at any time …… for any reason?
Is there some type of official notice (in writing?) that must be given to the mineral owner in such an instance? I have been dealing with a lease offer from an oil company (through a landman that I confirmed is actually representing the oil company) and I had questions concerning the way the landman was showing my mineral interest, which I believe to be incorrect. The landman said they would look into this and get back to me. Time passed, I did not hear back, so I contacted the landman to see what had been found about the way my interest was listed, and the landman told me that the oil company has rescinded their offer.
What is the best approach for a mineral owner to take in such a situation? And ….. could a mineral owner be “force pooled” (if that’s the correct term) at some time in the future if he doesn’t have written documentation from the landman/oil company that a lease offer was rescinded, which I assume would essentially mean that a lease offer was basically never given?