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Started By
Message
re: Just bought 40 acres
Posted on 10/31/13 at 9:53 am to kywildcatfanone
Posted on 10/31/13 at 9:53 am to kywildcatfanone
quote:
Just curious, a landowner does not own the mineral rights to his own land in Louisiana?
In LA the seller that owns the estate in total - surface and minerals can reserve the minerals. That reservation lasts for 10 years unless a well is drilled...the drilling of the well resets the 10 year clock...if there is production the clock is suspended and only restarts when production ceases.
All other states allow severance of the minerals...the only difference is there is no clock, it's in perpetuity...that's the law in your state bud. LA tries to unite the estates. In my view it's the better law.
2
Posted on 10/31/13 at 9:56 am to cwill
Also, I think this is probably the Wilcox play...it's the hottish play in SW LA in Beauregard and Allen Parishes primarily at this time...but it's winding down and the play isn't living up to the hype.
Posted on 10/31/13 at 10:30 am to SD90MAC
Did it come with a mule?
Posted on 10/31/13 at 10:45 am to Bear Is Dead
quote:
Why didn't you buy the minerals?
Why would the seller want to sell his mineral rights?
Posted on 10/31/13 at 12:02 pm to RedStickBR
Lol im working on getn a mule
Posted on 10/31/13 at 12:08 pm to cwill
What if the well is drilled not on my land? But oil is being sucked from under my land. Does the 10 year clock start over? Even though the well is not on my land?
Posted on 10/31/13 at 2:00 pm to SD90MAC
As long as your land is included in the unit and the well is producing, the 10 year clock is stopped. Once the well ceases production, the 10 year clock starts. If another well is drilled within 10 years, the clock stops and is reset again.
A unit is when all or part of your land is combined with surrounding lands into one "pool" and a well is drilled to produce the minerals. Generally, the land pooled into a unit is all in the same section, but that's not always necessarily true. If you know what section-township-range your property is in, I can check the production around your property and see what might be going on.
A unit is when all or part of your land is combined with surrounding lands into one "pool" and a well is drilled to produce the minerals. Generally, the land pooled into a unit is all in the same section, but that's not always necessarily true. If you know what section-township-range your property is in, I can check the production around your property and see what might be going on.
Posted on 10/31/13 at 2:20 pm to LSUGUMBO
quote:
As long as your land is included in the unit and the well is producing, the 10 year clock is stopped. Once the well ceases production, the 10 year clock starts. If another well is drilled within 10 years, the clock stops and is reset again. A unit is when all or part of your land is combined with surrounding lands into one "pool" and a well is drilled to produce the minerals. Generally, the land pooled into a unit is all in the same section, but that's not always necessarily true. If you know what section-township-range your property is in, I can check the production around your property and see what might be going on.
Gumbo..if you don't mind, could you check mine? We have 19 acres in Livingston Parish.
Section 31, Township 6 South, Range 4 East
Posted on 10/31/13 at 2:23 pm to CP3LSU25
quote:
Why would the seller want to sell his mineral rights?
Most of the time people don't know what the hell they even have.
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 10/31/13 at 5:09 pm to LSUGUMBO
Section 17
Township 6
Range 09
Ward 6
Sellers road
Township 6
Range 09
Ward 6
Sellers road
Posted on 10/31/13 at 5:10 pm to LSUGUMBO
I have the parcel number too.
Thanks gumbo
Thanks gumbo
Posted on 10/31/13 at 5:32 pm to LSUnowhas2
Thanks a ton for all the info guys.
I think im gona go to plan b and just wait till this all unfolds. Before i build a house on it.
I know the seller well and will try to work with her. Rite now i really dont feel like i own it.
Tell me if im wrong here, i just paid the seller for the land(6 figures), she gets all oil money, i get nothing unless they drill on the land, and i got to pay the taxes on the land every year, and the ten year clock starts over if they hit oil, and it dont start again till the well is dry.
I think im gona go to plan b and just wait till this all unfolds. Before i build a house on it.
I know the seller well and will try to work with her. Rite now i really dont feel like i own it.
Tell me if im wrong here, i just paid the seller for the land(6 figures), she gets all oil money, i get nothing unless they drill on the land, and i got to pay the taxes on the land every year, and the ten year clock starts over if they hit oil, and it dont start again till the well is dry.
Posted on 10/31/13 at 6:49 pm to SD90MAC
quote:
This is bull.
Why is this bull? You knew about it and you signed your name. Do you believe you have some sort of right to renegotiate now? If so why?
Posted on 10/31/13 at 8:10 pm to SD90MAC
quote:prescription will not be interrupted until production associated with the mineral rights under your land ceases. Then the 10 year clock starts ticking. So there's a possibility that you never own these minerals
What if the well is drilled not on my land? But oil is being sucked from under my land. Does the 10 year clock start over? Even though the well is not on my land?
Posted on 10/31/13 at 8:12 pm to SD90MAC
quote:pretty much
Tell me if im wrong here, i just paid the seller for the land(6 figures), she gets all oil money, i get nothing unless they drill on the land, and i got to pay the taxes on the land every year, and the ten year clock starts over if they hit oil, and it dont start again till the well is dry.
Posted on 10/31/13 at 8:14 pm to SD90MAC
quote:I see you're in Dequincy. The oil company wouldn't happen to be Midstates would it?
SD90MAC
Posted on 10/31/13 at 10:26 pm to ForeverLSU02
quote:those guys have all kinds of high salt-in-crude issues in their fields, no refinery wants to take their oil, they're taking a hit big time
Midstates
Posted on 10/31/13 at 11:06 pm to SD90MAC
quote:
Section 17 Township 6 Range 09 Ward 6 Sellers road
There hasn't been a well in this Section since 1978. A pretty good oil well, but it only produced for about 5 years.
I'll try and do some more in depth research at the office tomorrow- the website is giving me problems from my iPad.
Posted on 11/1/13 at 12:04 am to ForeverLSU02
The land guy said orion i think. Out of lafeyette maybe.
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