A Subordination is commonly encountered in a situation where a lessee has acquired an oil and gas lease from a lessor/landowner, when the lands are subject to a mortgage or … Continue reading “SUBORDINATIONS”
Month: February 2010
RATIFICATIONS
Often times an owner of an interest in the mineral estate will be asked to sign a Ratification. This may be a ratification of an oil and gas lease, a … Continue reading “RATIFICATIONS”
PROPERTY TAXES ON OIL AND GAS INTERESTS
In Texas, interests in oil and gas (leasehold interests, mineral and royalty interests) are deemed real property. Property taxes, referred to as ad valorem taxes, are assessed on producing oil … Continue reading “PROPERTY TAXES ON OIL AND GAS INTERESTS”
OIL AND GAS FORMS
There are no “standard” oil and gas forms, but the documents used to transfer mineral, royalty, and leasehold interests, and deal with those interests, have not changed significantly in the … Continue reading “OIL AND GAS FORMS”
FORMS OF OIL AND GAS LEASES
There is no “standard” form of oil and gas lease. Many believe a “Producer 88” is a standard form lease. This is not true. The story (or legend) concerning the … Continue reading “FORMS OF OIL AND GAS LEASES”
FAVORED NATIONS PROVISION
It is not uncommon that a mineral owner is approached by a landman or oil company, requesting the landowner to execute an oil and gas lease, as lessor. The lessor … Continue reading “FAVORED NATIONS PROVISION”
ANCILLARY PROBATE: CAN IT BE AVOIDED?
It is not uncommon for an owner to hold title to mineral and royalty interests in several states. When that owner dies, with a will that is probated, providing for … Continue reading “ANCILLARY PROBATE: CAN IT BE AVOIDED?”
