Triangle is committed to being fully transparent with our owners, which includes providing you with a full understanding of what it means to lease with us.
A mineral lease is a legally binding agreement between Triangle, the lessee, and a mineral rights’ owner, the lessor, giving us the right to extract and produce the owner/lessor’s oil or natural gas. Property or land ownership does not necessarily reflect mineral ownership. In many cases, the original owner may have sold the surface rights, but retained the mineral rights. Mineral ownership can be ascertained by conducting a title search at your county clerk and recorders office or the private title abstract company in your area. Triangle will also conduct a title search to confirm ownership.
Triangle typically provides an initial bonus payment to the owner/lessor. Once a well begins producing, owners may receive recurring royalty payments based on the agreed about royalty percentage in the mineral lease. The lease is generally in effect for the duration of production and work over periods.
If you have any questions about leasing, please contact:
Owner Relations Department