I just recently found out that I have money being held in suspense for a well in Reeves county that started producing in June 2021. The operator just said yesterday that they need to draft a ratification for me to sign and get paid. I’m a NPRI owner. Per the Texas Natural Resource Code, I believe that I am owed interest since the operator failed to do their job of sending me the ratification last year to sign (they have had my contact information for several years). If I am owed interest will the operator automatically pay me the interest or do I have to request it? Would I need this to be agreed on before I sign the ratification?
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Get an attorney! You want legal representation to get the best resolution possible. Not always a good idea to sign a ratification without legal help. You will need to demand interest and also hopefully get a better interest rate and better clauses on the lease.
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