Do you know if your oil and gas lease is about to expire or has expired? Often, the answer is unclear. In fact, many landowners are surprised to learn that according to standard oil and gas leases, the contract is not terminated even when a lessee fails to pay them royalties.
If you are currently under contract, and the production has ceased, you may find yourself in the situation where you’d like to terminate your oil and gas lease. This is where an oil and gas attorney is beneficial.
Here at Sweat Law Offices, we will review your lease to determine whether it has terminated and what you are owed.
In some cases, landowners negotiate upfront that a lease is automatically terminated if royalties are not paid within so many days after the first production. Often though exploration companies are resistant to agree to such terms because it puts them at risk. But the last thing you want is to have to sue for unpaid royalties.
At Sweat Law Offices, we have been helping protect landowners with carefully drafted termination clauses and contract negotiation.
Examples of how our oil and gas attorneys can help you:
Have a question about whether your lease has expired, is about to expire, or has terminated? Consult with the oil and gas attorneys at Sweat Law Offices today.