I have just been contacted by a company (not sure if it’s ok to disclose) yesterday about a mineral offer in Carter county, Oklahoma (26-1S-3W). 7 NMA, 1/8 royalty rate. I wasn’t aware my dad had mineral rights or ownership until this call and offer came. Promoted me to start research and came upon this site. Liked what I read.
My dad passed away at the end of last year at 99. Working now with attorneys on estate and trust. I am an only child so everything fairly simple. Now this surfaces. Not sure how or what to notify my attorney of. Also, what to do with offer going forward.
How do I go about to determine whether there is an interest and details? Attorney? Landman (that I have read about in this forum)? Title attorney? Other party(s)? How to respond back to party that contacted me?
Glad for this site and appreciate any help offered.
Welcome to the Community.
I wasn’t sure of the stage you are in. Once your father’s estate goes through probate in Oklahoma, then you should be able to transfer the minerals into the trust. You might be able to sign a lease based upon an affidavit of heirship.
This post is not legal, tax or investment advice. Reading or responding to this post does not create an attorney/client relationship.
You can also tell the leasing landman that you are interested, but you need more information. You can request the deed of the interest into your family (which will be helpful to provide to your estate attorney). You can also ask the landman if they will be able to sign you based on where you are in the estate/probate process. That will give you an idea of timetable and expectations.
Good luck and feel free to reach out along the way.
Continental has filed for a set of infill wells nearby. One of them will cross a tiny corner of section 26. 1/8th is the minimum royalty. Ask what they are offering for 3/16ths, 1/5th and 1/4.
Ask the agent why they think that your father might have acreage there and get a description of it. Start with the agent since they have information. Then an attorney after that. The reason is that there is already a horizontal well called the Amsterdam 1-35-26XHW on the far west side of the section. He may have pending royalties waiting for him. If so, then there may already be a lease in his name. The new set of wells might be covered by that old lease. Or that well may not cover his acreage. You would want to get that part straightened out first.
You can look up your dad’s name on www.okcountyrecords.com and see if it shows up. It is free to look and only costs a small fee to print. I use the Advanced option to sort if the general option gives too many names that are not relevant.
Do not sign any new lease until you find out more info. Also, get an oil and gas attorney to look at the draft lease as it will not be in your favor.