I have interest in these sections and I am wondering if there is upcoming exploration. If any one has any information, it would be greatly appreciated.
Is your interest HBP? A lot of the University Lands are HBP or leased. AEP purchased a good chunck of them recently I think.
Thank you for replying!
I'm not sure what HBP is. I inherited some overriding royalty interest from a relative that he and a partner bought in 1970 or so.
I haven't received a specific offer for my interest but some of my relatives have, but not from AEP, if I am assuming correctly who AEP is.
HBP = Held by Production.
If you receive income from it, it is HBP. You are in a good area. It will be developed soon.
RR
Ah, I knew that. Its too early, since I stayed up too late last night
By looking at the RRC website GIS map there hasn't been any production in these Sections.
The company offering to purchase my relatives interest told them they already purchased the interest the partner owned. And the company wants to purchase theirs, so I am assuming it is overriding royalty interest that is still active.
I reread the "Creation and Assignment of Overriding Royalty" document and I don't see anything about HBP.
We are not interested in selling the interest anyway.
Thank you for the replies and information!!