Thank you Michael. Yes there is a well on section 75 and has been producing since 2001. I’ve been told it’s about out of production since it recently only produced $750. Can’t imagine that’s much money with what it must cost to operate the well and pay royalties and such. We own NO royalties just executive rights and whatever bonus we might receive for a lease. Problem is, we leased in 2000 and my guess is the lease is HBP till who knows when??? I sure don’t? My next question is ( probably need an attorney to review our lease ) can they drill deeper or another well without ever re-leasing those 78.75 NMA from us again? One lease signed 14 years ago goes on forever, as long as they keep drilling? Guess we were fools years ago for not looking into, or at least attempting to understand what we were doing. Think about it today, 78 NMA x maybe $2,000-2,500 an acre for lease bonus??? Sure would come in handy!!!
Go to TexasFile.com, register and then you can pull up any documents recorded in regard to your lease and name. Once a lease does not produce for 180 days, it reverts back to the original mineral owner - just keep that in mind.
I'll do some investigating tomorrow.
Personally I do not sell my minerals or orri but some do. Actually, I am in the process of purchasing minerals for sale in Reeves and Ward.
my email is mdhinsley@mac.com if you want to contact me
As I mentioned, we’d probably need someone in the know to look at our lease and tell us what the operator can or cannot do. My fear would be that we gave them permission (unknowingly ) to keep a drilling program going, wherever and to whatever depth or formation they choose without ever having to pay us another dime. Sorry for being so pessimistic, keep in mind we believed for years we owned ALL the rights and only weeks ago heard the disappointing news.
Patience
let me take a look
Gotcha. Thanks again. It’ll be interesting to see what happens. In case you’re interested my email address is tonylarman@yahoo.com
Michael Hinsley said:
Patience
let me take a look
Just a note of interest in my families experience as mineral owners. After thinking little more about our whole up / down recent episode with our 78.75 nma interest (executive right only so we were told by the operator) in ward county, Friday we were contacted by a landman (keep in mind it’s been 14 years now since anyone contacted us). Anyway, they need our addresses, got me curious since the existing well has about run it’s course, but is HBP and they now want to drill another well. What on earth could they possibly want from us??? It would seem they will try to keep hold of the current lease, and drill again without paying us another penny. Are my assumptions accurate??? I know, I know it will all depend on our current lease. They wrote it or provided it so I can’t guess it would have been written in OUR favor. We shall see.