The newsletter of the ISBA’s Section on Mineral Law
Browse articles by year: 2014 (1)
Newsletter articles from 2011
From the Editor
An introduction to the issue from Editor Jason Barnhart.
Leasing activity in southern Illinois
If activity in Illinois follows a similar pattern to other basins, some drilling for the purpose of data collection can be expected to occur relatively soon—perhaps before the end of the year.
Recent oil and gas rule changes
A summary of some of the rule changes enacted by the Illinois Department of Natural Resources, Office of Mines and Minerals, that went into effect earlier this summer.
Tax deeds void as to proceeds of oil produced prior to issuance of tax deed
Oil buyers should not pay out oil proceeds generated prior to the issuance of Tax Deeds purporting to cover impounded proceeds. Those proceeds belong to the owner of the property sold for taxes up to the date of the issuance and recording of the Tax Deed. If that owner cannot be found, then those proceeds must be handled as unclaimed property and reported to and sent to the Illinois State Treasurer in accordance with the Unclaimed Property Statute.