AboutLaura M. FitzGerald, CPL Expertise I can answer all questions related to any oil and gas leases, mineral sales, pipeline right-of-ways, LA Dept of Conservation Units; negotiating with landmen for leasing your property, assisting in locating owners of suspended funds.
Experience 26 years in the field and owning my own land services company; being a royalty owner, and participating in drilling wells
Organizations American Association for Professional Landmen, ArkLaTex Assoc. of Professional Landmen, and Dallas Association of Professional Landmen (DAPL), Women's Business Enterprise National Council (WBENC)
Education/Credentials Certified Professional Landman, attended LSU, Notary Public
Question We recently received an offer in writing to purchase our mineral interest. We executed the offer and returned it to the purchaser as instructed. We were given a proposed closing date but later told they had changed their mind. In the meanwhile we had been informing other interested parties that our minerals were no longer for sale because we had already made a deal. Wasn't the offer to purchase legally binding?
Answer Unfortunately as the world economy is currently, this has happened over and over again in the last 6 months to both parties, those that "sell" and those that "buy".
If a 'sale' falls through, it is a great disappointment for both parties, I am sure - but since you had other offers - I would try to take advantage of those other offers and not waste my thoughts on something that didn't happen.
Alot of times, in order to really consider what is 'right' or what is 'wrong' you must put yourself in that other person's shoes. I believe this is the way we should all try to be - and the world will be a better place for all of us.
