suburbhunter
Active Member
I have been looking for the right piece land for over a year. I am considering purchasing a property, 133 ac, in west central ky for hunting, habitat improvement for deer and turkey and very likely relocating to live on in the next 6-8 years. It has what I am looking for, some tillable acres for planting/orchards, thick cover, water, good access points, electric on property, road frontage, etc...
My only hangup is the mineral rights lease was just renewed with an oil company for another 3 years by the current owner. No drilling or exploration was done during the first lease term. The land has not been touched by the oil company so far. I guess the land owner wanted to squeeze a few more dollars out of it before it sold by renewing the lease. The owner is a timber company and it was select cut about 5 years ago. The current owner is willing to let the mineral rights go with the sale of the property. A few folks have said they would not be worried about future drilling and if they haven't drilled it by now chances are small on future drilling, I'm not that naive.
So my concern is I would hate getting a property just the way I want it with sweat equity and money or worse, building a house/cabin then a drilling rig show up to drill. I feel like I would have little if any say about their operation. I know every company is different and I have been educating myself prior to pulling the buy trigger.
Who has experience on working with mineral drilling companies and what should I expect?
Do they work with landowners or do they say this is where we are drilling and placing the holding tank and that's it, regardless of where or what you have done to improve a property or plan to do in the future? I know they have to/should/suppose to/repair surface damage.
What effect may it have on the wildlife use and movement?
Thanks in advance. D.
My only hangup is the mineral rights lease was just renewed with an oil company for another 3 years by the current owner. No drilling or exploration was done during the first lease term. The land has not been touched by the oil company so far. I guess the land owner wanted to squeeze a few more dollars out of it before it sold by renewing the lease. The owner is a timber company and it was select cut about 5 years ago. The current owner is willing to let the mineral rights go with the sale of the property. A few folks have said they would not be worried about future drilling and if they haven't drilled it by now chances are small on future drilling, I'm not that naive.
So my concern is I would hate getting a property just the way I want it with sweat equity and money or worse, building a house/cabin then a drilling rig show up to drill. I feel like I would have little if any say about their operation. I know every company is different and I have been educating myself prior to pulling the buy trigger.
Who has experience on working with mineral drilling companies and what should I expect?
Do they work with landowners or do they say this is where we are drilling and placing the holding tank and that's it, regardless of where or what you have done to improve a property or plan to do in the future? I know they have to/should/suppose to/repair surface damage.
What effect may it have on the wildlife use and movement?
Thanks in advance. D.
