North Dakota - Oil & Gas

摘要

Good Faith Purchaser Status Determined at Time Lease Was Taken, Not When It Was Recorded InNorthern Oil & Gas, Inc. v. Creighton, 2013 ND 73, 830 N.W.2d 556, the North Dakota Supreme Court held that the trial court must determine whether an oil and gas lessee had notice and was a good faith purchaser at the time he acquired rights under the lease, not when the lease was recorded. There, in October 2004, Brian and Holly Gunderson leased their oil and gas rights to John H. Holt pursuant to an oil and gas lease covering, among other lands, the S54SEV4 of Section 25 (Holt Lease).