Forgive me, but I’m new and trying to learn this business. I have inherited a 40 acre personal representatives mineral deed. There is one low producing Vertical well on the property from which I receive tiny checks. It appears there is another recent (Jan 2019) operator on the property with 2 good producing wells that have not contacted me. I’m not even sure how this works. Do I pursue a lease with them? Does the first company own the lease for the entire area and assigns it to other companies. I do not have and have asked for a copy of the original lease from the original company. What is my next step?
Gleep,
It would help out if you could put the section township and range so someone on the forum can check.
Upon further investigation the mineral deed lists the well in a particular area, not the area by itself. Is this common - to only have rights to one particular well or is this just how mineral deeds are written?
You may have what is called a royalty deed. It is for the royalties from a particular well only. It is different from a mineral deed. Mineral deeds have the rights to the minerals and any royalties. Royalty deeds only have right to the hydrocarbon products. What does it say near the top?
Wells are spaced for optimal drainage. If you have an old vertical well, it may be spaced at 40 acres, 80 acres, etc.
Thank you. It says Personal Representatives Mineral Deed and in the description names two particular wells. IRWIN 21-28 Township 35 North, Range 71 West, 6th PM, Section 28, NE 1/4 NW 1.4
IRWIN 23-28 Township 35 North, Range 71 West, 6th PM, Section 28, SW 1/4
Gleep,
That Township and Range does not match with Stephens County, Oklahoma.
What state is listed on it? Read through the deed and see if it mentions royalties.
Converse County WY It says nothing about royalties. It says all interest of grantor in and to all of the oil gas and other minerals in and under that may be produced from the following described lands…