Hi, I’m totally new to all of this and am so glad to have found this forum! This has such a wealth of information and thank you to everyone who has been so willing to answer questions – I’m feeling marginally less overwhelmed and lost.
My sisters and I hold several mineral rights in Grady County (in 19 different sections, mostly in 8N, 7W). The rights used to belong to my grandfather and then were held in trust for my sisters and I. Almost a decade ago, the trust terminated but the rights were never transferred out. It wasn’t until March 2012 that I was able to get the ownership transferred and a new deed recorded.
That’s left a 10 year gap – the trust’s PO Box was let go a decade ago so any correspondence sent to the trust (including checks, leases, etc) was likely returned to sender. I’ve got a partial list of operators that might be doing work related to some of the rights and I’ve started getting in touch with them to get the paperwork updated and see if there are any payments held in suspense I can recover (I have no idea if I’ll be able to recover anything held during the 10 years of the trust ownership – there isn’t a trustee who can submit the request).
I’m wondering if there’s more I need to be doing? How do I find out who to contact to make sure they have this new ownership information? Other than the deed, I have no documentation of prior leases, drilling, etc (and because of that 10 year gap, anything that was signed would have been before then).
Again, thanks for any help! Seriously, you have no idea what a relief it’s been to find this forum!
~Carrie
Carrie,
Many long years ago, I took over the mineral estate of a railroad in Bankruptcy that criss-crossed Oklahoma. As I remember, the Trustee controlled over 1000 parcels in the state. I sent a letter to each operator of each well in each section where a RR parcel existed. I provided a short copy of my authority and the legal status of the RR. The money poured into the Trustee with little objection other than well spacing that didn't include the RR land. With one helper we collected over %500,000 in 1985 dollars in one year out of suspense due to the bankruptcy.
I believe that if you will send a certified letter to each operator of each active well in each of the 19 sections, providing the Name of your grandfather, the name of the defunct trust and a copy of your deed with recording information , you will get positive results. Money held in suspense or an explanation that your land is not in the well unit. Non-active or plugged wells will be more difficult so you should find out if they are worth pursuing from production records. Get an oil and gas lawyer to construct the form letter.
The good operators may even provide you with copies of leases and Division orders applicable to your grandfather of the defunct trust. It is a lot of work I know, but interest in 19 sections in Grady Co. should be very worthwhile. As a good fallout from the work, the word will get around and buyers and lessees will be contacting you regarding future activity. You will also have a good idea what land is open for future leasing.
Have a lawyer look at any commitments required to receive money, however.
I used attorney John Nelson in Chickasha to bring some of my records up to date.
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Thank you so much for your help! How do I find out who the "operator of each active well" is (if there are any). I don't mind putting in the leg work to find information and send out letters if it's possible, I'm just trying to figure out where to look.
There are other, distant members of my family who also have interest in the same rights (we all inherited from my grandfather). I can't get in touch with them to ask for information, but I have been able to search OK Public Records database to see if they've been leasing. I've found several leases to various companies - should I also send letters to those companies as well?
Thanks again for the help!
~Carrie
Carrie,
Gary Hutchinson gave you some great information.
I might be able to help you out to get the some of the data you need. I'll send you a friend request if you want to seed me the book and page of the deed that was filed.