Old lease

I have a 50 year old lease on my 75 acres.  Can it be (re) leased to another company?

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Permalink Reply by Mike Zimmerman on September 25, 2011 at 8:57am
Is the acreage HBP or held by production? Are you or anyone else receiving royalties on property? If not, it is my opinion that a 50 year old lease would be null and void.
Permalink Reply by Sandi Muir on September 26, 2011 at 10:41am
Don't know what HBP or held by production means?  We are still recieving royalities on this property.  Thanks in advance for you help
Permalink Reply by Finnbear on September 26, 2011 at 12:59pm
The fact that you are receiving royalties from a well involved with this lease means there is an active (still producing) well. Because of that, the lease is still in effect and is what the industry calls HBP or Held By Production. In that case, no, you can't lease to another company.
Permalink Reply by Gunner Ostergard on November 29, 2011 at 6:45pm

Just because they are sending you a check does not guarantee it is producing.  Don't tust the gas company.

Permalink Reply by Karen Bagdes-Canning on September 25, 2011 at 9:00pm

Beware of a little check coming in the mail that will mean you just got paid and they continue to own your minteral rights.  I was just warned at a meeting about this.

 

Permalink Reply by Jim Litwinowicz on September 29, 2011 at 9:32pm
Read the lease.  Sometimes, rarely, it will have certain strata or depth mentioned.  Depends on if they had a good laywer or not. If so, you may be in luck.  I have seen two so far with such a loophole .

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