TJ Unit - 40 Acres
(Tony Lease) 1
(40 Acres)
(Jessica Lease)
(40 Acres)
Pre-Drill
TJ Unit - 40 Acres
(Tony Lease) 1
(40 Acres)
(Jessica Lease)
(40 Acres)
Post-Drill
Modern Problems:
Pooling and Subprime Lending
The Problem: OilSalinddeG65as Lease taken after a
Mortgage does not survive foreclosure sale.
The Result: After foreclosure sale, Oil and Gas Lease
terminates and tract is no longer pooled.
Modern Problems:
Pooling and Subprime Lending
The Potential Issues:
- Permit Validity
- Trespass
- Commingling
Jerry’s Farm
Wade Lease Tony Lease Jessica Terrell
Lease Lease
Penetration Point Terminus
Correlative Interval
Jerry’s Farm
Wade Lease Tony Lease Jessica After
Lease Foreclosure:
Penetration Point Unleased
&
Correlative Interval
Unpooled
Terminus
Modern Problems:
Pooling and Subprime Lending
Possible Solutions:
- Lender Subordination
- Re-Leasing & Re-Permitting
- Force Pooling
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TEXAS POOLING OVERVIEW. Tim George. McGinnis, Lochridge & Kilgore, L.L.P. 600 Congress Avenue, Suite 2100. Austin, Texas 78701. 512.495.6047. [email protected]
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