Austin, TX (Law Firm Newswire) September 2, 2011 - Recent headlines show that having oil and gas on your property can be a mixed blessing. In Jefferson County, residents were planning on an increase in their incomes based on drilling by BP and Cimarex Energy on their 156.68 acre tract. Seven people filed a lawsuit alleging that the companies refused to pay a one-sixteenth reserved royalty interest of all the oil produced on their land.
The residents say an oil and gas lease has been in existence on their land since 1933. Two wells have already been drilled, and the plaintiffs say the companies have been producing and selling oil and gas products on their land since November 2009.
“Mineral rights owners and landowners should take advantage of legal guidance to negotiate appropriate leases and make sure all their oil and gas rights and royalty payments come through,” said Texas oil and gas lawyer Gregory D. Jordan. “There are many nuances to the agreements, and there are rights, privileges, and obligations of each party that must be defined properly to obtain the most benefit from each agreement.”
The Law Offices of Gregory D. Jordan is headquartered in Austin and has helped many landowners throughout the state negotiate, fully understand and capitalize on the terms of oil and gas leases. “Without expert legal representation to negotiate and explain all of the terms and conditions of a lease, not only could you be negatively affected but future generations in your family could suffer similar pitfalls,” Jordan commented.
Having an experienced oil and gas attorney review an oil and gas lease helps individuals maximize their financial benefits and ensure property is used in an environmentally-responsible way. “I’ve seen oil and gas leases change hands many times before the land is drilled,” said the Austin oil and gas lawyer. “You want to know that your lease is good for the long term and that you have a lawyer you can count on to answer your questions,” he said.
Jordan has more than 30 years of oil and gas industry experience, not only from the legal perspective, but also from his background as a petroleum landman and petroleum engineer. He handles a wide range of oil and gas matters, from disputes over leases, royalties, and property damage to complex contracts. Jordan is skilled in negotiation and litigation and is respected by businesses and landowners for his expertise in oil and gas law. To learn more, please go to www.theaustintriallawyer.com or call (512) 419-0684.
Law Offices of Gregory D. Jordan
5608 Parkcrest Drive, Suite 310
Austin, Texas 78731
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