The Leasing Process
Artex Oil Company understands that leasing your mineral interest is an extremely important decision. We believe the steps our Exploration Team takes before we contact you regarding an oil and gas lease is one of the many distinctions that sets us apart from other oil and gas companies. The following is a brief and general overview of the leasing process:
Identify Favorable Geologic Areas
Our Exploration Department’s experience allows Artex to determine what geologic prospects are favorable for oil and/or natural gas development. Typically, the prospects identified at this stage are very broad in nature and span several townships, and sometimes counties.
Artex reviews and examines the public records to identify specific tracts and mineral interest ownership that is not subject to existing oil and gas leases. This process is commonly referred to as the “Takeoff”.
After identifying land and/or mineral owners not currently believed to be subject to an oil and gas lease, one of our Contract Land Agents will likely approach you to negotiate a lease of your interest. For additional information visit the Ohio Department of Natural Resources, Division of Oil and Gas website by clicking here, which provides information for landowners regarding the leasing process for oil and gas in Ohio.
Collect & Analyze Seismic Data
Artex drills target-specific wells. To maximize the potential benefit to the royalty owner and to Artex, it is imperative that we obtain the highest quality geophysical data through seismic surveys. Our Geology/Geophysics Department scrutinizes the data to further identify the strongest potential drill sites on the leases which we have obtained or control. Due to the nature of the data and the level of analysis involved, this process may take as long as 2 years to complete.