I also got a request to sign a lease with acreage TBD as well as payment tbd. I have never seen this before from any lessee. It makes me uncomfortable signing a document like this.
A Drill Site Title Opinion is for drilling a Well. A Division Order Title Opinion is for disbursement of royalties.
thanks for that clarification Charles,
Do they have 2 different TO's run? What is different in the 2?
On the Leasing side we generally just were waiting on the OR', but sometimes Curative would come back from the DSTO. Do they further examine title once the DSTO is done?
A Drill Site Title Opinion typically only covers the Surface Location, what we used to refer to as the "Drill Site 40". Since the advent of horizontal drilling, however, they frequently now also cover the proposed Borehole Corridor and Bottom Hole Locations as well.
A Division Order Title Opinion included all of the tracts in a given Unit.
Thanks for the clarification
You're welcome!
I've been a Landman for over 37 years and I still ask questions.
I would like to thank Ben, Charles, and Buddy for providing valuable information. I was able to take a piece of information each of you provided, and, I believe I have agreed to a better lease agreement because of it. Again, thank you very much for your knowledge and taking the time to share it.