An oil and gas lease can prove to be quite lucrative. Yet, the success of one of these leases for a property owner like you will depend not only on the terms of the agreement, but also on your ability to enforce it. All too often oil and gas companies skirt their obligations pursuant to these contracts, leaving property owners worse off. If that happens to you, the matter will only be set right if you act to protect your interests and enforce the terms of the lease at hand.
What should you do if you suspect that your oil and gas lease has been violated?
You can’t sit on your rights and expect the oil and gas company to make good on their promises. Instead, you need to do the following to position yourself for successful legal action:
- Review the terms of the lease so that you can pinpoint exactly how the oil and gas company as strayed from its obligations and what your rights are pursuant to the agreement.
- Track your damages, whether they be cleanup costs, unpaid royalties or pollution charges, making sure to be as detailed and as thorough as possible.
- Retain and gather all communications you had with the oil and gas company to show how they responded to any allegations of breach of the oil and gas lease agreement.
- If you haven’t already, bring the alleged breach to the oil and gas company’s attention to see how they respond.
- Consider consulting with a legal professional who can help you navigate the intricacies of your situation.
Don’t let an oil and gas company get away with taking advantage of you
The nuances of an oil and gas lease can be extraordinarily complicated. That’s why if you suspect that something’s gone wrong, then you may want to consider assessing your legal options. Fortunately, you can find help doing that so that you can better ensure that your interests are protected as fully as possible.