what does a lease with base 3/16 royalty interest & a reserved 1/16 override interest which converts to 50% working interest at payout mean? I inherited this from my father and the lease should be active because a well was producing when more wells were drilled but the clause wasn’t noticed by either the Operator or myself initially and I think 6 new wells have paid out & I should have some working interest?
How many acres did the lease cover? Need a lot more info to make an informed opinion, but from 10k ft above, it looks like youre going to need hire the best attorney you can in the area, as this could be worth a ton of money depending on the area/wells/acreage covered. Like multi million dollars
Thank you for your answer. My family only has 1/3 of 2 5-acre mineral interests so it won’t be huge but there are also 6 wells permitted. I have sent a certified letter to the operator, who says the title opinion attorney is looking at it. This particular operator tried to stonewall me in a previous conflict but finally agreed that they owed penalty & interest on 8 wells with some of them producing for a year after I sent them the NM statute about payment timing. Do you know of an attorney who is eligible to file complaints in NM? Thank you again, Mollye Morris
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