How does the oil and gas company pay landowners?
How does the oil and gas company pay landowners?
At one time, the oil and gas company paid a delay rental payment to the landowner during the initial or primary term of the lease. The delay rental payment was usually paid on a yearly basis. While the delay rental payment was being paid, the oil and gas company did not have to drill or do anything on the leased land.
How can oil and gas companies damage your property?
Intentional acts to skim money off the top of lease agreements and mistakes caused by oil and gas company negligence can lead to hundreds of thousands of dollars in financial losses and property damage for landowners. Improper drilling techniques can destroy property value in seconds, property that has been nurtured and cultivated for generations.
How often do oil and gas companies pay delay payments?
The delay rental payment was usually paid on a yearly basis. While the delay rental payment was being paid, the oil and gas company did not have to drill or do anything on the leased land.
How to collect unpaid oil and gas royalties or sue for land?
Experienced North Dakota property owners and Texas landowners know how to collect maximum compensation for any property damage or financial loss caused by the careless or corrupt actions of oil and gas companies, including full land remediation and complete financial recovery.
At one time, the oil and gas company paid a delay rental payment to the landowner during the initial or primary term of the lease. The delay rental payment was usually paid on a yearly basis. While the delay rental payment was being paid, the oil and gas company did not have to drill or do anything on the leased land.
Can a landowner recover from an oil company?
Even where the oil company has negligently or intentionally caused excess damages, it is very difficult to recover for those damages absent express contractual authority. A good example of the difficulty faced by landowners suffering surface damages is Primrose Operating Company v. Senn .
Intentional acts to skim money off the top of lease agreements and mistakes caused by oil and gas company negligence can lead to hundreds of thousands of dollars in financial losses and property damage for landowners. Improper drilling techniques can destroy property value in seconds, property that has been nurtured and cultivated for generations.
Why do oil companies pay for surface damage?
The company pays this compensation for two reasons: first, to maintain good relations with the surface owner, and second, to obtain from the surface owner a release, which is presented to the surface owner at the time of the payment.