Initial 3 yr oil/gas lease in Eagle Ford, (karnes/atascosa cty area) expired in 2013. Lessee didn’t drill and didn’t pick up 2 year option.
is the former lessor entitled to any geological surveys or other docs from the former lessee?
if so, which records, surveys, etc and what is the best way to request them?
if not, what is the typical cost to the landowner/mineral rights owner to obtain a geological survey, (oil, gas, water, geothermal, etc). Approx 200 - 225 acres.
1) A lease is a contract. A lessee isn't required to do anything above and beyond the terms thereof. What the lessor is entitled to depends on the wording of the lease.
2) Wouldn't worry about it. If they didn't drill, there won't be too much to see. If it's open and someone else wants to lease it, they will be contacting you. If you want, you can file an Affidavit containing the legal description of the land, stating that the 2 year option was not extended. It might better flag it for you.
It would be free, 90-Days Same As Cash, if you add a provision to your next lease requiring that they supply you with copies of any Well Logs, 2-D or 3-D Seismic test results and their analysis of it, any Reserve Studies or any other Engineering Studies they have prepared.
They won't want to, but if they want your lease badly enough they will.
You can also add a provision that they provide you with any Title Run Sheets and Title Opinions covering your lands. Always good to have those in your files.