coopfert90 said:
We have 100% split 3 ways in the family.
I was advised to determine what zone they are drilling in and at what depth.
I am told that if it is not in the lease, they could lease a deep zone to someone else and keep us out of it.
Just want to make sure we are covered in all zones leased, shallow or deep to cover all bases.
Thanks!
Like I said earlier I am not familiar with Arkansas law. That being said I suggest you stop listening to whoever is giving you advice and talk with an actual oil and gas attorney (one that does this for a living and is currently drafting leases in the area).
If you sign a lease (and own 100% of the minerals) that specifies it only covers surface to 5,000 feet there is nothing else the company can do other than what is listed below. You own the minerals from the surface to the core of the earth.
In Texas, if they drill across your property without a lease you become a partner in the well. You are also responsible for the costs associated with the well and since hardly any person can ever cover this cost you will be carried by the company. You won't receive a check until the well reaches "pay out". If the well makes it to pay out, you will receive larger interest because you won't be diluted by any unit or royalty.
There are other scenarios in which other mineral owners on your tract can be pooled and you are left out of the unit but since it is all family owned I doubt anyone is going to be signing anything w/o everyone agreeing. This is only if the wellbore does not cross your property.
Remember - This is only how Texas is and I am not familiar with Arkansas. They may have something called forced pooling similar to Oklahoma in which you won't have a real choice other than to select rates given to you by the court.