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Leasing Information
Why lease with BGTTOil?
BGTTOil stands as a highly regarded player in the oil and gas industry, boasting a commendable track record in the safe and efficient drilling, completion, and operation of oil and natural gas wells since our establishment in 2012. Despite our modest size, our nimbleness is a distinctive asset, enabling us to swiftly seize opportunities on the horizon. Our dedicated team of professionals is unwaveringly committed to conducting operations with efficiency, responsibility, and a keen focus on environmental stewardship.
What sets us apart is our ability to provide landowners with the best of both worlds. With BGTTOil, you benefit not only from our extensive operational experience but also from the personalized attention and relationship dynamics characteristic of a smaller company. This unique combination ensures that our partners can navigate the complexities of the energy industry with confidence, enjoying the advantages of a seasoned operator while maintaining the close-knit rapport typically associated with smaller entities.
What you need to know about leasing?
The Oil and Gas Lease: An oil and gas lease serves as a legal agreement between a mineral owner and BGTTOil, conferring upon BGTTOil the rights to explore, drill, and extract the mineral owner’s oil and natural gas resources. In return for granting these exploration and production rights, the mineral owner may receive an upfront payment (bonus payment) along with a royalty percentage from the proceeds of future production.
The Leasing Process: Upon the signing of an oil and gas lease, BGTTOil initiates the crucial step of confirming the legal title of the owner’s minerals. Typically, this title confirmation process takes approximately 90 days. Following the confirmation of ownership, an upfront bonus payment may be made by BGTTOil, if applicable. Post-bonus payment, our team embarks on evaluating the drilling potential for a well. It’s important to note that entering into a lease does not automatically guarantee well drilling on a specific property. Leveraging horizontal drilling technology, BGTTOil minimizes surface impacts by drilling from locations that could be over a mile away.
As previously mentioned, the lease ensures the owner receives a royalty—a percentage of the revenue—once production is established. If oil and/or natural gas is successfully produced from the property, the lease term extends for the life of the well, which may span 20 years or more. Importantly, a royalty interest owner bears no responsibility for the costs associated with drilling the well(s).
What to Consider: Prior to and throughout the leasing process, numerous factors warrant consideration. Owners should weigh who will ultimately be overseeing the extraction of their minerals, irrespective of the company offering the oil and gas lease. The operating company, responsible for drilling and production, may not necessarily be the same entity that initially presents the lease. Historically, BGTTOil has consistently operated (drilled and produced) leases it enters into with mineral owners.
HOW TO GET STARTED:
For your convenience, you may also reach out to us via email at LeaseHold@BGTTOil.com. We appreciate your patience and thank you for considering BGTTOil.
