SW/4 of sec 10, twsp 18S, Rge 38E Activity

New Mexico Mineral Rights Lea County, NM
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Signed a lease for this back in October 2016 to Adobe Energy, have heard nothing since. Does anybody familiar with this area have any knowledge of mineral activity in this area lately? I do not live close by so have to live in suspense…

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We signed a lease for T10S R38E Sec 8 Lea County May 2017

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We signed a lease in Mar 2017 section 6 Township 20 Rg 38E

There has been NO ACTIVITY since we signed. And the land man only filed a MEMORANDUM OF LEASE, stating that we signed, but did not list the actual lease.

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It is not uncommon for an oil company to spend several years compiling leased acreage before drilling. Most likely the primary term of your lease is 3 years, and you may have agreed to an optional 2-year extension. JRW, many companies file a memorandum rather than the lease. This is why it is very important that you have a copy of the lease in your files. If you do not have a copy, contact the landman and ask for one. Or ask the name of the company to which the lease has been assigned and get a copy from that company.

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I have a copy of our lease plus the addendum where we told them what we would agree to and what we would not. FOR EXAMPLE - NO two year extension. If a company wants two more years? THEN THEY NEED TO DRILL ON THE LEASED PROPERTY.

We also cut a lot of verbage out of the lease, like we were responsible for all costs associate with pretty much everything. That is WHY you need a lawyer to go over the lease for you to point out all the parts that are NOT in your favor. Our addendum was three pages.

And we AGREED to only filing the memorandum instead of filing the lease itself. We understood exactly why.

I’m counting the days until the three years is up and we can shop these mineral rights again, for MORE $$$ nma…

We got $500 nma plus 1/5 royalty. Next time, I’m looking to at least double that amount, hopefully more than double if we have any luck at all.

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Hi JRW, do you have a recommendation for a good lawyer? Also, if you don’t mind my asking, which company leased your mineral rights? Asking because I have some I’d like to lease. Thanks!