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Message
Just bought 40 acres
Posted on 10/30/13 at 1:06 am
Posted on 10/30/13 at 1:06 am
One week after i close on the land, the seller(mineral rights owner) emails me about, she was contacted by an oil company and they want to lease the land for oil and gas exploration. She owns the mineral rights for 10 years. I didnt buy the land to have a well in my back yard. Am i screwed? Do i have any say so? Ive never run into this prob before in buyn land.
11
Posted on 10/30/13 at 4:25 am to SD90MAC
Here is Louisiana, When selling land, the owner can keep the mineral rights up to 10 years of said sale date unless there is a producing well on said land. Then the minerals rights stay with the first owner till once said well stops producing.
You are a screwed pooch.
quote:
I didnt buy the land to have a well in my back yard. Am i screwed? Do i have any say so?
You are a screwed pooch.
Posted on 10/30/13 at 5:39 am to SD90MAC
We've got mineral rights on close to a thousand acres in E. Tex, so opposite of your situation- little check comes every month, but not once has someone from the oil co. stepped foot on it- it's been this way for as long as I can remember. So, as long as they don't find anything, you're good- but also remember that the could put the rig elsewhere and still produce from under your property.
Posted on 10/30/13 at 6:31 am to SD90MAC
Just curious, a landowner does not own the mineral rights to his own land in Louisiana? Why would anyone buy land without owning all rights to it? Is that pretty normal practice there or lots of places?
Posted on 10/30/13 at 8:10 am to SD90MAC
quote:Sounds like they contacted her months ago and she decided to sell the land but keep the rights.
One week after i close on the land, the seller(mineral rights owner) emails me about, she was contacted by an oil company and they want to lease the land for oil and gas exploration.
Posted on 10/30/13 at 8:17 am to SD90MAC
You would have to lease the surface rights and get what little piece of the pie you can. If you say no, they'll just drill on someone else's land and hit the oil under you anyway.
As far as the Ragley area is concerned, its very unlikely they drill anything. We have 40 acres ourself in the area and we've leased for probably the last 5-6 years or so and they haven't tapped a well anywhere yet.
There's only been one well active that I can remember, but they've since capped it.
Anyhow, welcome neighbor.
As far as the Ragley area is concerned, its very unlikely they drill anything. We have 40 acres ourself in the area and we've leased for probably the last 5-6 years or so and they haven't tapped a well anywhere yet.
There's only been one well active that I can remember, but they've since capped it.
Anyhow, welcome neighbor.
Posted on 10/30/13 at 7:45 pm to SD90MAC
My background is on the pipeline side of the E&P world, but it seems crazy that they could drill without getting a temporary easement from the surface owner.
Posted on 10/31/13 at 9:49 am to SD90MAC
quote:
ne week after i close on the land, the seller(mineral rights owner) emails me about, she was contacted by an oil company and they want to lease the land for oil and gas exploration. She owns the mineral rights for 10 years. I didnt buy the land to have a well in my back yard. Am i screwed? Do i have any say so? Ive never run into this prob before in buyn land.
The well may not be on your property...should the well be located on you property you will be able to negotiate a surface use agreement and get some cash in the neighborhood of $10k....but you cannot bar their entry...the surface estate is subservient and if you resist they will just get a TRO and move on to your property...be a tough negotiator and get as much as you can.
Posted on 10/31/13 at 10:30 am to SD90MAC
Did it come with a mule?
Posted on 10/31/13 at 4:23 pm to SD90MAC
They have to pay you for access to the land and to put a well on your property. She owns the minerals under the land but they have to work with you to access them.
Posted on 11/1/13 at 10:54 am to SD90MAC
Can you sell your land and put in a clause to maintain the mineral rights until you decide to sell it 50 yrs later...or in perpetuity? Where can I find some good information on mineral rights in Louisiana ?
Posted on 11/1/13 at 1:27 pm to SD90MAC
I'm not reading through this thread to see if this has been answered. But I will say from personal experience that if they set up a well on the property, they must pay you (the landowner) a fair value for the acreage being used for said well. However, any royalties will go to the holder of the mineral rights.
My family owns 800 acres of cane field in Louisiana with an active well from the previous owner who is getting those royalties, but my family gets a yearly lease that is renewable every couple of years. My family is not entitled to any royalties until the active well has not produced for 10 years. I'm no expert on the matter, but that is my understanding from personal experience.
My family owns 800 acres of cane field in Louisiana with an active well from the previous owner who is getting those royalties, but my family gets a yearly lease that is renewable every couple of years. My family is not entitled to any royalties until the active well has not produced for 10 years. I'm no expert on the matter, but that is my understanding from personal experience.
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