I was just approached to sell my mineral rights that were left to me in Adams county, CO. I have no idea what it’s producing as even when my parents were alive they hardly received any royalties on this well. I know this well has been producing but how do I prove it? Since the original oil company was bought out, then that one bought out, now this one has sent 2 royalty checks in the past 4 years and have since stopped any checks because they’ve said I have to file probate where I live, then probate in Colorado even tho it specifically states all rights to it were left to me. My parents have owned these mineral rights since 1982. How can I prove that all the oil companies have lied on how much this is producing and how much they should’ve already paid in royalties? And how do I figure out how much each acre of rights is worth?
Production records and mapping are all available online through COGCC. A skilled accountant can provide estimates of what should be paid and the appropriateness of deductions.
There are four different probates processes available in Colorado and depending on the nature of prior or other probates and whether a current probate is open, the process could be fairly straight forward to get you into pay status. You may also ask the operator how much is in suspense before you make any big decisions.
The information is for general information purposes only.
“I know this well is producing but how do I prove it?”
How, exactly, do you know this well is producing and that “…the oil companies have lied…”
As Jenna said, all production is a matter of public record and can easily be verified through the COGCC website.
From your description, it certainly sounds as if your chain of title is not complete from your parents’ estate and that is why you haven’t been paid. That is a matter for a title attorney. The Company should be able to tell you how much they are holding in suspense.
On another note, the offer to purchase your minerals will most likely be contingent on clear title, so you will need to get your title cleared one way or the other.
Thank you for this information.
Becky,
Do you mind giving the legal location of your minerals and how much the offer was for? I’m looking at minerals for sale in Adams Co and would like to know how the competition is offering.
Thanks
I have a similar question about minerals interests for sale in Adams county, the competition’s offers and credibility of purchasers. The interest is in Township 1 South, Range 66 West, 6th P.M. Any info would be appreciated. Thanks
There has been some recent activity in parts of 1S 66W, and there are quite a few permits in the area.
Much of 1S 66W is inside Brighton city limits, and you can probably kiss those goodbye if the new bill makes it into law.
If you provide your Section number I can be more specific.
Thank you for the response. It is in Section 34.
Extraction has three new wells just northwest of you in Sec 28. They are only about 6 months old, but look like pretty decent wells. Most of Sec 34 is farm land, so I believe wells can be drilled there, but I don’t see any permits there yet. Have you been leased?
Unfortunately Adams county just passed a bill today where no new permits for at least next 6 months I believe. This will just further increase the number of companies leaving Colorado .
Extraction Oil & Gas has the lease.