Replies to This Discussion

Permalink Reply by Lynn Wigglesworth on January 28, 2011 at 1:24am

Has the last lease expired? Once a lease expires, the mineral rights go back to the original owner, and they can lease them again. Of course, there are some automatic extensions in some leases, and I believe that a lease can only be automatically extended once. I've never heard that there is any limit to how many times you can lease your mineral rights....makes no sense.

Permalink Reply by William Ladd on January 28, 2011 at 4:35am

Hey Lynn, I'm not sure I understand your thought here about the leases going back to the original owner.

Robin said that they inherited the property. So now they are the owners.  Who was paid for the lease?  And didn't Dominion take over the leases from Consolidated?

 

I suppose that the original owner continued to hold the lease or assign it to someone else or did the lease payments revert to the state as being unclaimed? 

 

Bill L.

Permalink Reply by Lynn Wigglesworth on January 28, 2011 at 5:02am

It DOES matter if it's an oil and gas lease or a storage lease. Robin; do you know what kind of leases they are? If one is a storage lease with regular payments, that complicates things. Have both leases expired?

Who signed the lease with Anadarko? Your grandmother (if I recall, she still owns the mineral rights?)?

 

Permalink Reply by Brian V. on January 28, 2011 at 5:15am

The 1978 lease has most likely expired. Often companies don't file a release. Anadarko took a new lease in 2006. I'm assuming that lease does not have an extension. However, a lot of those Anadarko leases did. This would all depend on how the mineral rights are written into the deed. If the Minerals are to go to Robin after the term of the lease and there is no extension then Robin would be free to lease. I remember Robin explaining how this conveyance worked some time ago but I forget the specifics.

 

Robin, look over the excepting and reserving term in your deed and then look at the lease terms of the current Anadarko lease. If that lease is due to expire and the property is not included into a unit and the minerals are conveyed to you then you are free to lease.

 

You can only have one effective lease at a time. However, you could have a top lease filed for that property which would not go into effect until/if the current lease expires.

Permalink Reply by Robin Jackson on January 28, 2011 at 4:03pm

I think I finally got this..There were actaully three leases on that property and two have expired and the third with Anadarko has an automatic extension. The mineral rights come to us when my Grandmother leaves this world. She is 92 this year. I realized after reading all the responses that a lease can be extended once but a person can have numerous leases..I do believe she has rec'd monies this month to complete the extension. There is a well up behind her but I have no idea how to tell her if she is in the grid..

 

On the property we reside on now, we can see a well from our house however Talisman has not sent us any info to let us know if we are in a grid.