Thanks. I believe I have done business with them before. Is there a general rule of when to consider an offer like I have received?
I have done business with RD Williams several times. Whatever figure you and arrive at is as good as gold. Kind of a grouchy person but a straight dealer
I have an offer from Citation to sell my minerals in Sec 30, Tract 79, Countyline. Does anyone know what’s going on in that area?
Thanks
Janet,
Don’t sell your mineral rights unless you need the money. You will make more money holding and getting a good lease with say 1/4 royalty.
There is activity around you in, but not in section 30. However, if someone is interested, there must be a reason:)
Janet,
Just the stir the pot, you may want to give RD Williams in Ardmore a call and see if they can do better offer.
We have mineral rights in S:5,T:4s,R:3e. We do not know exactly how many acres and it is not leased. We contacted XTO and 6 weeks ago they said they have an account in my fathers name , he is deceased, and they would send heir ship papers for my mom to fill out. They say that they did not have a current address. Still have not received papers. At his point what rights do we have and should we see a mineral rights lawyer?
Thank you Rick. I will locate an attorney in Ardmore to take care of this.
Marci,
That interest, the 12%, is called Statutory interest.
Marci, I would suggest contacting an attorney to probate the will and clean up the title with the funds held in the account. If they will release it with a AoH, great. But still clean up the title.
Marci,
That is a good area. XTO is drilling 8 wells from section 5 north into section 32 3S 3E.
I have used Martin E. Dyer in the past (580) 223-1656 back in 2009. I plan on using Brent Bahner of Fischel Clup McMillin Caffin Bahner and Long LLP (580) 223-1766 in the near future if projects go as planned.
Marci,
You might want to get everyone together a drive out hwy 199 to Gene Autry Rd, go north until you come to road E1910. This is 1 mile south of Mount Pleasant Rd. Go East about 1 1/2 miles and on the right near the boundary of section 6 and 5 you will see a drilling pad on the right, then go about another 1/2 mile and you may see another pad right and then one more 1/2 mile and you may see a pad on the left. All these pads are for drilling the 8 new wells into section 32 3S 3E, the next section to the north.
There is a producing well in section 5 4S 3E, RISINGER 1-5H. It started producing Aug 24th 2010. If you have not been getting royalties for this well, when the money comes watch out for the federal taxes.
Marci,
Since you do not have a lease and have a good size payment coming, I would ask for 1/4 royalty. They may offer 1/8 or 3/16. Also, since it is not leased, no royalty payments have been received. If this is true then XTO owes you 12% on ALL production from Aug 24, 2010!
RD Williams has a number of brokers. I have not heard of any of them not being professional & reputible.
Janet, Depending on the quantity and how clean the title is, I might be interested. We have rights in a couple of adjacent sections and would mind adding a few acres. Your personal situation will have to determine if you should sell. I’m not willing to sell, but you have to decide what is best for you.
Daniel, It doesn’t sound like it matters at this point on the choice of the RI. I imagine they were pooled at the default rate in the pooling order. If they were named, they would be pooled.
Thank you Daniel. I will get with my mom and brother and contact one of them and get this started.
Marci,
I ran some made up numbers and at 1/4 royalty on 5 acres the payment could be around, with interest that would be paid in a separate check, about $8,000, unless I missed something.
How do I find out if we have been pooled? It is in my dads name Dairel Rawson. We believe we have at least 20 acres in this area.
Marci,
I think this might be the POOLING ORDER
http://imaging.occeweb.com/AP/Orders/02FB378A.pdf
Look on the last page and see if your dad’s name is there.
His name is not on this pooling order. I know it was on some earlier documents,ing with his sisters, but they have both been left off of the pooling order. Funny thing is both of there correct addresses are on the early documents but now XTO says they don’t have current addresses.