My mother received a letter from a company named Black Oak asking to purchase my father’s mineral rights. We had no idea he had any and aren’t really sure of what to do. I contacted an attorney who has assisted in negotiating, however, I am not sure that selling is the right thing to do. It has been 45 years since the purchase. We recently received another notice to sell as well as an order to drill on property that my grandmother owns. I have anxiety over the “quick” payout as I am not sure if that is the smart thing to do. Does anyone know what is going on in McClain count that would spark interest in the acres? The section is 34, township 7 North, range 4 West. Any help is greatly appreciated! Thank you
You want to check these two pooling applications also. There is a possibility they are named. If so, you want to make sure contact info is valid so an election can be made.
Selling your minerals is forever, so don’t be in a hurry to sell. Also, unless you are in need of quick cash for a serious reason, selling is usually not the best option.
The phrase “quick payout” doesn’t mean anything to me. There is a hook in that bait, so be careful.
IF somebody is buying they are feeling pretty safe that they will make 2 to 10 times more than what they buy them from you for. They are not doing it to lose money. Plus, they are just land, but underground. You own them producing or not. That is a very hot area for oil.
