I have an objection to my current lease. Should I try to request a new restructured lease during Highpoint Chapter 11 bankruptcy filing? If I don’t object at this time, does that signify a consent for accepting my current lease terms?
Is this my opportunity to bring up a new lease agreement? I have not received a bonus and have been in a lease for over ten years.
This acreage is producing in Weld County, Colorado.
The bonus is only paid once at the time a lease is signed. If you are receiving royalties, then the lease is held by production and continues until production ceases. It is a contract and would not be affected by the bankruptcy of the operator. Bankruptcy courts allow wells to continue to produce and royalties to be paid. If your wells cease producing or the royalties are not being paid, then your right to terminate the lease will depend on the lease terms. This is a general statement. There may be something special in Colorado law which could affect your rights which someone who is familiar with Colorado law can answer.
Thanks for your clarification. I received a somewhat detailed notice and am unsure about whether I am required to respond. Not sure why I would have received a notice if I have no vote and the lease is unaffected. I guess it’s a do-nothing situation!
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