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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 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?
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