3 years ago I inherited some mineral interest from my Grandma.
She has a lease with CLR. I was receiving monthly payments for her lease. Earlier this year I received two or three different division orders (new ones that were not previously listed in my paperwork).
Since then the payments have dramatically decreased and some months nothing at all.
I understand that payments will fluctuate and could stop, but it seems odd that if there is now 6 orders with less money.
Of course, I’ve received offers to sell—tempting for sure, but I feel like I’m wondering in the dark with this all. I don’t feel comfortable making a decision like that without fully understanding what I have.
Should the payments have decreased so drastically after receiving more division orders? Is there a way I could check if all of this adds up? I am 100% okay with it if it’s suppose to be this way; but I’m afraid bc of my lack of knowledge I am missing something or should be following up.
OR do I just sell and move on with my life… IDK. Where can I find more info? How do I know what’s happening is “fair” or “correct”?
Jessica: When you say inherited, did you receive the minerals via a Probate, or mineral deed? Is your information on record with the Grady County Clerk? The wells you are speaking about are located in
Township 6 North, Range 6 West, a very prolific area for the Springer formation. But these wells have a
very steep decline of up to 80% per year for the first couple of years then level off. Depending on the Section(s) you actually own in, there are probably more wells that you are entitled to than the ones you listed.Since all of these wells are operated by Continental, it at least sounds like they know where you are.
If you have the information, what Sections did you inherit in and we can see what other wells you might have interests in that you aren’t getting paid on? Some of the wells are new enough that you might not be getting more division orders for a couple more months. My advice is to not sell anything until you know what you actually own.
Thank you for your quick response. You raise some great questions. The acreage I was left was in a Will, but I am quite certain there was no probate. I believe the executor of the Will just made contact with CLR after the passing and CLR did what they did and divided everything up accordingly.
So if it’s on Grady record…I am not sure.
As for what I “own” I believe that it’s SEC 21-T7N-R6W and SEC 20-T007N-R006W.
I think that’s what you’re referring to. See what I mean, I have no idea how this all works. I’m truly trying to educate myself on these matters.
Thank you for the insight it definitely gives me some new things to look at.
Sorry- I meant 7N-6W. You should contact Continental and ask them about new wells. There are more Wilkerson wells and now new Nancy J wells that began production in June or July. You should be getting division orders on those in the next 30 days or so. You can go to okcountyrecordsdotcom and look in Grady County records for those sections to see if your predecessor’s information is of record.
Good Luck.
