DID YOU RECEIVE A LETTER FROM US?
It’s probably either an offer to lease or a proposal letter or a request for curative documentation.
If it is an offer to lease, please review it, making sure it is consistent with your records, and, if acceptable return, it to our office as soon as possible so we can send you a lease. If it is a proposal letter it should be returned quickly as a pooling is likely to follow. Note that if your proposal letter says “you are receiving this letter for curative reasons only” then you probably don’t actually own an interest in the unit but are a “stranger” who must nonetheless be notified prior to commencement of pooling operations. |
WHAT IS CURATIVE?
Occasionally, flaws will develop in the record, which affect mineral owner’s title. We have found that the easiest and most convenient time to solve these problems is when we are in the leasing process. Additionally, we believe that proactively solving these problems rather than leaving them for someone else to solve is the best policy. The best part is that solving them now means that in the future you are unlikely to be asked to solve them again.
Requests for curative documents are our efforts to cure problems in the record title for the unit. In most cases it is a benefit to you which costs you no money. If you are willing and able, assisting us with this process will result in long term benefits. |
WHY ARE YOU BEING CONTACTED?
You are being contacted usually because our research (or our title attorney’s research) has determined that you own an interest in the unit (or that you are a stranger that may be claiming an interest in the unit). We are generally contacting you so that we can lease your interest. Once we have been able to lease enough interest in the unit, our client then usually follows up by drilling a well in the unit. If the well turns out to be productive and commercial then you will begin receiving a royalty from the well. This royalty will continue to be distributed as long as the well produces and you own the interest.
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HOW TO EXECUTE AN OIL AND GAS LEASE
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