Enid Lawyers Provide Title Opinions Protect Parties to Energy Industry Transactions

Oklahoma oil and gas attorneys expertly ensure drilling rights

Before an oil or gas well can be bored, it is essential for the well operators, financiers and eventual purchasers of the oil or natural gas to know that there is proper title to the leased mineral rights. At Long, Claypole & Blakley, P.C., we have years of experience in the field of oil and gas law that gives us the skill to deliver title opinions on which our clients may confidently rely.

Expert legal team provides title opinions to clarify oil and gas rights

An oil or gas title opinion is a document prepared by an attorney that identifies everyone who has mineral rights or other interests on the parcel where the drilling will occur. The opinion also identifies any problems with each person’s title and recommends curative measures to solve these problems. The title opinion differs from a title abstract, which merely summarizes the relevant transactions in each person’s chain of title. The purpose of the title opinion is to reduce the risk that interested parties who have not agreed to lease the mineral rights will claim a valid interest in the well once it is drilled. Lack of an essential agreement can potentially force the well operators into litigation and lead to paying millions of dollars in compensation.

Diligent lawyers prepare all types of oil and gas title opinions

Several types of oil and gas title opinions might be needed for any particular parcel, such as:

• Drilling opinions — These are prepared before drilling begins to determine that the company or companies who will be operating the wells have leased the drilling rights from all of the necessary parties and therefore may safely operate.
• Supplemental opinions — Updated versions of drilling or other title opinions incorporate the results of any curative measures and any additional documentation of importance to anyone’s title.
• Division order opinions —Once drilling produces oil or gas, these opinions identify all persons entitled to proceeds from the production and sale of the product and their relative percentages. The opinion also details any continuing title problems and curative measures needed.
• Lender’s opinions — These are prepared for banks that are lending money secured by the oil and gas revenues of a well and focus on the borrower’s interest in the mineral rights.
• Acquisition opinions —Companies that intend to purchase an oil a gas property require these opinions, which relate information about the seller’s title and any problems with it.

We are experienced in searching titles and in preparing and reviewing all types of title opinions.

Contact a knowledgeable oil and gas title opinion attorney in Enid

Long, Claypole & Blakley Law, PLC advises Oklahomans on all legal issues related to oil and gas production. Please call 580-599-0191 or contact us online to make an appointment for a consultation at our Enid office.