Question conerning ratification of and consent to pooling when holding a royalty interest but not a mineral interest.
Conveyance document retained executory rights but required any lease entered to be “subject to the usual 1/8 royalty on oil…”. This was from about 1950.
Now three daughters make a lease subject to 1/6 royalty (2000).
Horizontal wells are permitted upto this acreage. Operator has engaged third party to obtain ratification and consent to pooling presumably so they can drill horrizontal wells which require or span beyond our 320 acre tract.
Now 1/6 royalty does not seem to me to be market but i have no executory rights. Together with those holding executory rights we have 62.5% of tract, again subject to 1/6 royalty.
Is there anything we can do and should do that would allow greater participation?
Good Afternoon,
My family and I have 2 areas of land to LEASE not sale in DAWSON county there are 4 of us, we have 240 acres in section 2 block 35 T4N, we have had wells on this land before, just not drilled but about 5000 ft so I know there is oil there, plus we have 160 acres for lease it is located at section 28 block 35 T5N, we are open to lease all together or by themselves.
please contact me on here or at [email protected]
The following is a sponsored (paid) promotional notice:
If you own minerals in Texas or New Mexico, consider attending the NARO – Texas convention in San Antonio July 18-20, 2018. They have a great agenda, good speakers, and the cost is reasonable. This year also includes a special session for New Mexico mineral owners. The current agenda draft is attached, and a link to their signup and information page is http://www.naro-us.org/event-2824234
Attachment: 2018-04-30%20-%20NARO-TX%20Convention%20Agenda%20%28Hyatt%29%20invite.pdf