Compliance

Heritage Royalty (“Heritage”) Entities

While Heritage Royalty is the brand that the oil and gas industry has come to recognize, there are in fact a number of entities within Heritage that each have ownership over the different assets the company holds.  Heritage Royalty Resource Corp. (“HRRC”) is the entity that holds the company’s fee title lands and gross overriding royalty assets.  HRRC is the entity under which land-related contracts (including fee leases) are entered into.  All of Heritage’s proprietary seismic, as well as Heritage’s employees reside within Heritage Resource Limited Partnership (“HRLP”).  HRLP also provides management services to HRRC.

Compliance at Heritage Royalty

Heritage’s operating strategy is to encourage third party development of its mineral rights in a systematic manner to maximize the long-term value of Heritage as an investment. The act of leasing mineral rights to third parties gives rise to Lessee compliance obligations: legally binding contractual obligations outlined in Heritage lease terms and contract provisions. These compliance obligations will be monitored and enforced by Heritage to mitigate the risks of financial loss and reputational damage.  Enforcement of obligations will include, but shall not be limited to, serving notices of default, repatriation of non-producing formations or even termination of leases.

For more information, please contact:

Megan Hyland
(Manager, Royalty Compliance)

Melanie Lindholm
(Manager, Land Compliance)

Electronic Well Data Submissions