I received a Certified Letter identifying me, along with 17 others, of being a potential successor in Holco Co. HC was apparently dissolved in 1991, with a number of spacing units operated by Burlington Resources Oil and Gas Co LP. The Exhibit lists Iron Horse DSW/Midnight Horse ULW/Everhorse ULW, Midnight Run DSU/Midnight Horse ULW, Waterton DSU, Bryce DSU/Capitol ULW, Eveglades DSU/Everhorse ULW and Blue Ridge DSU/Shenandoah ULW. The letter states Burlington has placed HC's funds 'in suspense until we are able to locate successors in interest'. I have no idea when funds started, ended, or what the funds total.
BRO&G LP recommend I contact independent legal counsel to resolve the title requirements. Once the title is resolved the funds me be released to proper successors or if not, the funds will escheat to the State. The certified letter was signed by a Landman with BRO&G LP.
This letter sounds to me like a solicitation of some sort. I am looking for thoughts or suggestions in moving forward.
Those wells are in 152N 96 W various sections. Most drilled between 2009 and 2013. Are you aware of minerals that you might own or might have inherited in that township? You may be able to do the detective work on your own. The funds would have started about 2009 (unless you had older production) and your percentage would be based upon a lease or force pooling in the particular sections. They hold the funds for a certain number of years, then turn them over to the state (echeat).
I don't think it's a scam because you can get the title work done anywhere. A solicitation would require you to spend money with a certain scam artist. You didn't specify but I'm assuming Burlington wrote this letter to you? If so, it's not a solicitation. If it were me, I'd call Diamond and have them run the title for $1500 or so.
It's doable if a person knows what they're doing, i.e. landman or trained by one. I won't look up the wells since M Barnes has done it, but could be some decent funds here waiting for you. They think it's you but want you to do the title work so they don't have to. I would do it.
What is Diamond and can you provide contact info? I have no experience in the oil world and appreciate you direction about doing the title work.
Thank you for the information about the wells. I have request from BRO&G info on the lease and percentage for me and my 2 nieces and nephew. (My sister is deceased an I will be point person to try and get this resolved.) I did inherit a very small (.21 net mineral acres from 2000 gross acres) amount of mineral rights in Dunn Co a couple of years ago. I'm thinking this will be something similar.
Oh sure, Diamond is a landman/title research firm, with several offices in ND. I have stuff in 9 counties in the region and send all my work to this guy, he's a pro and reasonable on the wallet:
[email protected]
Since you are new to oil, I looked at these wells. You're in a core area, meaning they're good wells, and you can get more wells drilled. I would lean on the land firm for more help in deciding what to do.
I'll predict if you own more than 1/2 a net acre, you'll get back what you spend. And possibly some future revenue.
Hi Lee, this is Mark Holten, another heir to the Holco Co. holdings. I, as well as others I have been in contact with, have all received this letter. I'm hoping the Holco heirs can "get together" and decide how to address this in the most efficient manner possible.
Please feel free to contact me directly at [email protected]
Mark