Legal Question in Business Law in Texas
Oil/Gas/Mineral Lease
Own land in TX, signed a 3 yr oil/gas/mineral lease last year, one year later the Co says they want to start drilling to look for oil but they want to make 3 amendments to the lease. Can they do that? One thing they forgot to include in the orig lease was that no one else could drill on the land. I say this is to my advantage. Can I ask for a new lease with a new bonus?
Asked on 7/05/08, 11:25 am
1 Answer from Attorneys
Re: Oil/Gas/Mineral Lease
It's all a matter of negotiation. However, if your existing lease makes it unprofitable for them to explore your land, don't expect any activity unless you renegotiate. I suggest you hire your own expert to deal with this issue.
Answered on 7/05/08, 12:08 pm
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