i signed a lease about 10 years ago. one half of property is in a well unit. the gas co said that they can continue the lease indefinately? out of ignorance i signed the lease at $5.00 an acre. the lease expired in 2011. does anybody know a way out of the lease. thank you, jc
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Find the most qualified O&G attorney in your area. Take ALL pertinent paperwork. You should get a reasonably fast answer that in the grand scale won't cost too much. I hope that it is the one that you want, but don't get your hopes up. On the other hand, you owe it to yourself to know for sure. A good attorney did help me at an earlier point in time to remove an old pipeline easement that was written about the same time as your lease. She was able to remove it legally while playing by the rules. I was naive when I signed it, they were not careful in their language. A good attorney is the only one who can deal with the complexity of a lease. Good luck.
Sounds like you're HBP. I agree with Sage, go talk to a lawyer. They'll tell you where you stand and it shouldn't take more than an hour of their time.
is the other half leased? also I believe as long as youre recieving a royalty check the lease is in effect
the lease is for the total acerage but only half is in a well unit. jc
the lease covers all the acreage so you are now HBP on all the acreage .....so the oil company holds all the acreage at this point as long as the first well pays you a royalty ......when you signed the lease you were leasing all the acreage in one contract so even thou they are not producing half of it they control all of it
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