buckeyefarmer
Epic Contributor
Depends on type of line. check out gomarcellusshale.com
New Gas Well on my property by XTO in Texas
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C4Ranch
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Yep, did hat when I bought the property but there were a lot of legal speak in the deeds that makes me think but not know for sure.
RedNeckRacin
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Well there should be an original lease that specifies who signed it with the gas company. Then you have to figure out who it was passed onto from their will.
RedNeckRacin
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Well there should be an original lease that specifies who signed it with the gas company. Then you have to figure out who it was passed onto from their will.
C4Ranch
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No current production last wells were back in the 50's and property changed hands 3x since then. Original family had a clause that stipulated they held 100% of existing production then conveyed 50%. Didn't see any of the prior owners retain any so by my best account I have half. But again, that's a lot of legal speak in the deed transfers which doesn't make it easy to decipher. That's why there are oil and gas specialized attorneys.
I had the seller sign an affidavit of no production and filed it so believe that should satisfy original stipulation.
RedNeckRacin
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Don't quote me on Texas Oil and Gas law, but in Pa if there isn't production for a calendar year then the original gas lease is null and void unless it specifically states otherwise. So there may be more money involved than you may realize. Generally, the gas right do not pass with the property, they are generally handed down through family. If you are not directly related, you may not own any gas rights either. That's why I suggested to sift through the dusty old books and try and figure it out. It is kind of a fun detective game! If the property isn't leased and you have to negotiate with the gas company, it would be worth looking into what people in the iIMMEDIATE area are getting paid per acre. I don't mean 3 counties over either. Geology changes very rapidly across a state and very dramatically effects the value when you are taking gas extraction.
