Can anyone help me? I recently found out my Dad Mark Lyons Peisch owned gas rights( hes deceased 4 years) operated by Vanguard Natural Resources in Houston. His will was never probated but Im claiming they owe me Money since 2008. Antero operated it prior. I am named as an heir in my Dads will but not regarding this. Vanguard says they only owe me 400 dollars which seems like nothing. Can I legally claim ownership?
If you probate the will, then you can claim it. Vanguard may accept an affidavit of heirship. Title has to be proved before they will pay you. The amount of money that you make from royalties is tied to your net acres, the spacing acres of the well, the royalty and if a horizontal well, then the percent of perforations in your section. Also the price and gas has been fairly depressed over the last few years.
net acres/spacing acres x royalty x percent perforations in your section.
Based upon what you have said, your father’s estate would qualify for a summary probate. These usually take a few months to complete. Most attorneys handle uncontested matters on a flat fee basis.
Thank You! I recently sent the AFFADAVIT of disinterested party notarized to hughes county clerk for filing. The ball is now in their court. If im able to get legal ownership i would like to sell the rights outright even though the well is not producing.