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Permalink Reply by LostInTheShuffle on May 10, 2012 at 8:42am

Never heard that before, but it makes sense up until the point where the oil and gas company wants to put a well on a piece of property.  If no title search was performed and royalties were paid to someone that did not in fact own the oil and gas rights, there would have to be major problems/lawsuits/etc. trying to recoup the royalty money that had already been paid and spent by the landowner.  I was under the impression that the oil and gas company always performed a title search. 

I'm sorry, I wasn't very clear - signing a lease, by itself, does not mean you own your mineral rights.  The O&G companies generally do a very thorough search before any development (drilling) takes place, so if you are collecting royalties or have a well, yes, you probably own your minerals.  But a lease alone, especially at a lower price, does not guarantee mineral ownership.

Edited to add - if you have a well or are collecting royalties, it's not super-likely you'll be able to lease anyway, as your property is probably held by production.  This depends on a huge number of variables, however, so your mileage may vary.

Permalink Reply by time will tell on May 10, 2012 at 9:53am

Does any one know what the KWGD lease amounts ended up being in Belmont Co. ?

Been hearing alot of different #s .

I hear that they are coming to Monroe co. also .

Permalink Reply by 09bp5t05myjl3 on May 10, 2012 at 10:02am

I don't think KWGD did a deal in belmont per se there last deal was in Guernsey county @ $5,000 & $5200 upfront depending on Township & 20% gross, but I think  there were some Belmont acres included

Permalink Reply by time will tell on May 10, 2012 at 10:04am

Thanks Tom . 

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