Original Drilling and Supplemental Title Opinions
ML focuses on oil and gas title examination, preparing Original Drilling Title Opinions to provide our clients with marketable title to their properties, if not better. We also perform associated transactional, administrative, and many types of non-title related oil and gas services for our clients. We have over 30 years of experience specific to horizontal/directional drilling on rural lands and in urban areas. Our Title Opinions address horizontal drilling issues, ownership insofar as it applies to landowners, rivers and roads, and defects and gaps in chains of title. Nonparticipating royalty interests and nonexecutive mineral interests are clearly reported, analyzed and carefully discussed in our Title Opinions where such interests are in force and effect and burden the lands upon which Opinions are being prepared.
Division Order Title Opinions
ML prepares Division Order Title Opinions customized to the specific requests of each Operator with regard to both form and content, including specifically-tailored Division Order Title Opinion comments and requirements addressing issues associated with vertical drilling operations and/or horizontal drilling operations. We include detailed, custom excel documents (spreadsheets) reporting Divisions of Interest, with these Division of Interest spreadsheets specially formatted for Division Order Analysts and our excel spreadsheets can typically be converted directly into our clients’ JIB accounts and revenue pay-decks.
Title Status Letters
Title Status Letters are tract-based title curative reports which identify curative updates, title defects/discrepancies, outstanding or unsatisfied drilling and production requirements, and potential title defects which may have developed subsequent to the closing date of our Opinion and/or may have been overlooked by other (prior) title examiners. Many of our clients request Title Status Letters in order to efficiently manage their title curative process, time spent and cost accounting, on a tract-by-tract basis. Title Status Letters are particularly helpful for both the operators and title examiners in the formation and development of proration units, pooled units and allocation wells, which can contain numerous separate mineral, royalty and/or leasehold tracts.
Pooling Letters
Our Pooling Letters are a unique analysis of the pooling provisions, pooling authority and/or restrictions which may be contained in the numerous leases to be pooled in a unit. Specifically, Pooling Letters address the pooling provisions contained in each lease to be pooled in a unit based on the size of the unit, length of diagonal, length of lateral, Texas Railroad Commission Rule 37 offsets, and Rule 86 pooling provisions. After each lease is analyzed, the examiner reports any issues with the pooling provisions of the lease, including pooling restrictions attributable to a specific lease, and provides an outline of the necessary amendments, consents and/or ratifications to the leases or unit necessary in order to form the pooled unit in compliance with each lease.
Retained Acreage and Depth Severance Letters
Our Retained Acreage and/or Depth Severance Letters are a fact-based careful analysis of special lease or assignment termination provisions which trigger at the expiration of primary terms or upon expiration of continuous development/drilling programs often contained in the numerous leases or assignments covering lands included in proration units, pooled units or upon which allocation wells have been drilled. Each lease/assignment is analyzed based upon the continuous operations and production facts affecting the lease/assignment and the examiner reports his/her opinion regarding what lease/assignment rights remain in force and effect and which lands and/or depths and geologic formations are terminated/expired, on a lease-by-lease and/or assignment basis.
Due Diligence
The attorneys with ML are skilled in the Due Diligence process required in both acquisition and divestiture transactions. We have represented buyers and sellers in drafting and interpreting Purchase and Sale Agreements, Joint Operating Agreements and other transactional agreements, together with virtual data room management. Our firm has provided Due Diligence analysis and reports for numerous acquisitions and divestitures of all sizes and types in Texas and New Mexico, among other states.
Customized Reports/Spreadsheets
ML offers up-to-date information for our clients on demand. We generate general and specific reports regarding statuses of projects, prioritized and in-sync with our clients’ drilling schedules and/or their budget reports for accounting purposes.
Plats
ML provides customized land plats with each of our Title Opinions enabling our clients to quickly and easily locate the lands and tracts examined. ML can generate single tract plats up to larger project or prospect area plats, which are convenient for accurately locating specific tracts and units within prospects, per our clients’ requirements.