My dad just passed and need to get mineral rights straightened out. My grandmother inherited 11+ acres and my mom received a 1/4 of that on her passing. Have been bombarded by people wanting to buy out or at least rent.
1975 My grandmother - last time she executed OGLand that has been released.
2001 Western Pooling which is still paying dividends to my dad’s estate
2016 What I am being told by people interested in mineral rights is Citizens did OGL with my dad Eugene but has since expired because it didn’t vest out.
I need to straighten out the heirs first and than decide where to go with offer. If my understanding is correct we would be better off with a higher royalty for long term.
$2,000 an acre with a 1/5th royalty is being offered but I am thinking more along the line of 1/4 royalty.
Your thoughts ad advice appreciated.