New to the forum. Just signed up because I have inherited a small piece of mineral rights in Eddy County, Permian Basin.
My question is basically - is there any way for us mineral rights holders to have more information about what is and will happen with payments & production… (ie - find out more information as to who is producing on the the land, when the checks should be expected) - or is more like “you’ll find out when you get them”?
I ask because my father (who passed on his rights to us) would get a large check one month, then 3 months later other checks would come, then sometimes monthly checks, sometimes quarterly. Sometimes large amounts from one company. Then large amounts from another company. Then some months nothing…It was all completely unpredictable and my father never took the time to really find out much more, from what I can tell.
Is there any way to get more information ahead of time about who will be sending checks, and when (and a way to check up on them, if it seems like too much time has gone by)?
I basically feel in the dark, and my brother (the most informed out of all of us) seems to have no idea either.
So I guess my question is - what is the most amount of knowledge that one can feasibly have? And what is the most amount of staying on top of the ball that I can do? (hopefully more than just “wait and see”?)
Thank you in advance for insights