About Bob Von Rhee Expertise How do you know where to drill for oil or gas? How do you accomplish this task? How many people are involved? How much money? What is the chance of success? the economics? Why don`t all oil and gas wells make tons of money? Why do we need oil and gas in our country? How can we tell if a property has any oil or gas potential? Why can`t we believe everything we see on tv or in the newspapers about oil and gas? What rocks contain oil and gas?
Experience 30 years as a petroleum geologist. Began my career with Exxon in West Texas; worked for many smaller independent companies and now own and operate my own production company and geological consultancy.
Organizations American Association of Petroleum Geologists, and Certified Petroleum Geologist. Tulsa Geological Society, Oklahoma City Geological Society Licensed Petroleum Geologist in Texas
Publications American Association of Geologists Web-based "Search and Discovery"
Education/Credentials BA Geology Lafayette College & MS Geology University of Illinois.
landmanrs wrote at 2006-11-16 23:58:10
An abstract or title company with experiece in oil and gas would be able to figure out which lease would be in force. An abstract will give you every recorded instrument that deals with your property, all deeds, mortgages, liens, leases, etc. From there you take your abstract of title to a title attorney. They will review all documents and render their opinion. We typically pay $10,000 for every 80 acres abstracted. The attorney's fee for their opinion is on top of the ten thousand dollars. You will pay the attorney for about a week of their time.
I would not spend too much time or money trying figure this out and tend to believe the oil and gas company knows which lease is in effect. Oil and gas companies have a lot of money wrapped up in their wells, leases, and attorneys. They tend to have multiple attorneys that review all contracts and mineral ownership before and during production.
