here are five commonly encountered Oil and Gas Title Opinions with varying scope and purpose; specifi – cally, Original Title Opinions, Division Order Title Opinions, Supplemental Title Opinions, Lending Title Opinions, and finally Acquisition Title Opinions. This article will provide brief definitions for each of the
FAQ types of oil and gas title opinions
What should be included in a title opinion?
The opinion will describe if the title is clear and marketable or if it has any encumbrances. The opinion will also advise of the legal owner of the property and reveal any mortgages, lien judgments, or unpaid taxes on the property.
What is the purpose of a drilling title opinion?
Drilling Opinions An oil company should have a law firm prepare a drilling title opinion before drilling a well. This opinion gives all the parties involved an idea of who has an interest in the oil, gas, or other minerals in the lands where they will drill the well.
What is a mineral lessor’s title opinion?
These title opinions allow you to have a better idea of what you are getting yourself into when you are purchasing an oil or gas property. All successful mineral lessors will pay attention to the title opinions and use them to make informed decisions about the business.
When do you need an acquisition opinion for oil and gas?
Acquisition Opinions An acquisition opinion is needed for any companies who are planning to purchase an oil or gas property. This opinion is detailed and helps the purchaser to understand what they are purchasing. It can confirm the seller’s ownership interest in the property.
MRP 60: Oil & Gas Title Opinions with Attorney Liana Jones
MRP 11: Oil and Gas Title Defects and Curative Measures
People Also Searches types of oil and gas title opinions