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17-Jul-2016 20:37

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I would like to know who owns the mineral rights on a property I am interested in buying in Colorado.\n The property is the Lake Fork Ranch in Conjoes county.It is located on 653 250 Forest Service Road in Antonito.Basically this guy is offering to pay you up front what it will probably take years to get on your own once the wells come in.I received an offer for mine of 00/acre earlier this year.They will agree to all but said they will not agree to a shut in clause as they are in the business to make money and are planning 4 Wells starting in March.Should I be concerned they won\'t agree to the shut-in clause?Sometimes that could be for a couple of months even. What I DON'T want is for the company to be able to shut in my gas well for years simply because they don't like the prices being paid for gas currently, or simply to "hold" the lease until prices rise.For this reason I like to LIMIT the amount of time a well can be shut-in to no more than 3 CUMULATIVE years. has a royalty reservation for 1/2 , reserved from 1900.

The two new wells they've started drilling are "multi-unit" wells however, that will include at least two full sections of land (a section of land being 640 acres). I expect they are hoping for a lot from them as horizontal wells spread over more than one section of land are expensive to drill.

New owners will be bound by the lease you signed until the lease expires.

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