Colorado Oil & Gas Legal Help - Title Opinions
The Importance of a Title Opinion in Oil & Gas Transactions
If your company is considering leasing drilling rights from owners of mineral rights or acquiring existing production, it is imperative you obtain a title opinion before proceeding. A title opinion is the written opinion of a lawyer regarding the current ownership rights relating to the property in question, based on the findings of a title search. A Colorado oil and gas lawyer has experience in the field and a specific understanding of such issues as royalty agreements, surface access rights and liability for production expenses.
You cannot make an informed decision regarding your investment without information on ownership and leases which may entitle multiple parties to an interest in the resources produced by your well. If you are to continue with your project, you also need to know about any royalties due, as untimely payment can lead to significant interest charges.
Colorado Oil and Gas Law Attorney
Ownership rights relating to any particular parcel of land can often be incredibly complex. Completely aside from surface rights, mineral rights may be distributed amongst numerous parties. Each party may lease their rights to a different oil and gas company. Those rights may be subdivided further by agreements amongst the companies themselves or by compensation packages promising a percentage of the proceeds to key personnel.
At Cantafio & Song PLLC, we have decades of experience providing quality legal advice to our clients in matters involving state and federal law. For a title opinion regarding oil and gas rights from a firm honored as Super Lawyers by Super Lawyer Magazine, contact us today.
For help with the vital step of obtaining a title opinion, contact a Colorado oil and gas lawyer today.