Hello, I was recently contacted by Red Ball Express Resources in OK with an Oil and Gas Lease Offer for rights I have on 10 acres in Caddo County OK. I am unsure if the offer is a fair one and am unsure what options I may have. Any advice would be welcome…
I moved your question over to Caddo county. You need to be more specific as to the offer and your section, township and range. Offer to buy or to lease? Where! Location, Location, Location matters!
My siblings and I inherited mineral rights in Caddo county. Can oil companies drill without our knowledge? We were contacted once after my father passed away but nothing since. I know it has been leased before. I am going to get my deed out and call someone regarding this but am not sure who to contact.
Yes, they can if they cannot find you. If you post your section, township and range, we can point you in the right direction.
Generally, if there is an active lease on the property a company might be able to drill additional wells without notifying you. However, if the property is not subject to a lease, then a company may resort to forced pooling in order to gain the authority to drill. Forced pooling is an administrative process whereby lease holdouts are forced into certain terms defined by the pooling order. Forced pooling is also used when an owner cannot be found and/or when an owner died and the property has not been transferred out of his/her estate or trust.
This post is not legal, investment or tax advice, it is for discussion purposes only. Reading or responding to this post does not create an attorney-client relationship.
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