Hello,
Lately there has been a great deal of activity (after several years of ziltch) of companies wanting to buy or lease my small oil/mineral rights in Grady County. If over 50% of the owners (multiple owners in all my holdings) agree to lease, what does that do to me? What If I am not willing to lease/sell? Do the companies need 100% agreement of all owners? Thanks in advance for any information!
No, they do not need 100% agreement of all owners.
There is a process to gather up or "pool" all of the owners that cannot be found or refuse to lease.
Here is some info from the state on it.
No they can force pool you ,and that is not a bad thing in most cases . If you would like to send me a friend request I will give you my # and tell you how it works if you want to call.
Thanks for the information. I was hoping the info might be different, it certainly doesn't leave much negotiating power for those of us with smaller shares. But, good to know. I appreciate the responses!
Most mineral interests when split up for various reasons are an undivided interest and not a divided interest. This is a little difficult concept to understand at first and the link below may help.