How does anyone know how to go about converting working interest into a royalty? I’m thinking it wiser to not be part of a well for liability reasons and just receive a royalty instead. Is there such a thing and if so does it start with calling the company to see if they would do that? These working wells are in Carter, Stephens, Love counties, OK. I have found that I cant even get through to half of the companies. I believe I had been offered to do this is the past but was not knowledgeable enough to follow through but now its seems might be a good idea. Any thoughts? Thanks.
Probably best to contact an oil and gas attorney in OK about how to do it properly. You are getting royalties as a working interest owner. There may be companies that would like to buy out your working interest, but you need to be very careful that you don’t sell them everything and not retain the interest you want. Hence the attorney!
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Thanks Martha. I will look into that.
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