My lease is with Gulfport, I received information that some of my property might be going into an Eclipse well unit. Does this void the renewel of my lease with Gulfport next fall. I know read my lease, those with that response need  not reply

Views: 1348

Reply to This

Replies to This Discussion

The option to renew (assuming it is written into the lease you originally signed) will be available to whoever owns the lease when the renewal needs to be executed.  Doesn't matter if it is the company you leased with or another company that was assigned the lease. 

if any of your property in your lease is included in a drilling unit that will make all your property in your lease HBP and you will not be renewed

Mike,

That's not exactly true, it depends on how your lease reads. I had a old boiler plate Phillip's lease of a whole two pages and Rex put 33 of my 45 acres into a unit. The lease expired and they lost  the acerage that wasn't included in the unit. It reverted back to me and I resigned with them 4 months later with better terms.

Are you part of the KWGD landowners group?  Is there a "Pugh Clause" in your lease?  

No were not a part of kwgd, yes there is a pugh clause. And thank you guys for answering
Dont they have to notify you when they reasugn your lease?

If it is in your lease that you have to be notified you will be.   Otherwise no they don't have to notify you.

The grapevine has in in Monroe County that Eclipse has notified several people by certified letter that they have been transferred to Triad Hunter of Magnum Hunter.

what county are u in .. guernsey , monroe.. if u go to uslandrecords.com and fill in state and county u can access ure land info.. any trading or assigning between oil companies has to be recorded .. and most of the time it will show how much acreage is included of yours in the unit they are drilling .. i dont think monroe or noble counties are on line yet ..i know this is what happened with a few of our properties in guernsey county and noble

Very interesting,  I've been wondering what happens if MH goes bankrupt and the unit I'm in is an Eclipse lease.

RSS

© 2022   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service