My family has been leasing our mineral rights in Dunn county for many years. This year the lease is up and Oxyusa has not renewed. No notification they do not answer my inquiries, nothing. I believe there is still a well on the land but can find nothing out. Don't they have to continue to lease as long as there is a well or are we just out of luck for now. Getting information is just impossible. Thanks
If they drilled a well during the last lease on land that is in the lease, then no you don't get a new lease...because your lease doesn't expire, as it would be held by production and you will be paid royalties as agreed to in your lease.
So, no new bonus for signing a new lease until the well is no longer producing.
They didn't renew the lease and royalties stopped. I thought as long as there was a well they had to renew the lease.
You can look up the area on the North Dakota Oil and Gas site for free. But if you want me to help you out, post your section, township and range, I will look it up for you. If you don't want to do it in public, friend me by hitting the blue picture next to my name and request to be a friend. I will accept and then you can ask me all sorts of questions.
When you lease and there is production, the production moves the lease from the "primary term" (the original three years) into the "secondary term" (which is as long as there is production on the section). This is called HBP or Held by Production. When the well dies, the lease ceases and you are free to lease again.