We have oil royalties in Duchesne County, UT. Someone else asked about this area earlier. Is it a hotbed? A company is offering a one year term royalty assignment. Apparently the company gets whatever oil is produced during that year, but the land reverts to us at the end of the one year term. It sounds like a reasonable deal…We are inexperienced in how to handle this.
I’d be careful about that one year term royalty assignment and make sure to closely read all the language. Might be worth getting a lawyer involved.
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Utah is not exactly a hotbed compared to other states, but it does have production in some areas. I would not touch that one year royalty assignment at all. The best recovery from a well is in the first year. Wouldn’t you want your family to get that instead!?
Be sure and get an attorney to review any contract to make sure that you understand the terms. Most leasing gives a royalty percent such as 1/8th, 3/16hs, etc. Never giving away 100%.
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Thank you SO MUCH! I’m in South Carolina, no oil wells here so no one to ask. This really helps!
If you want to share a section, township and range, I may be able to look up any nearby permits or activity
I have a share in land and mineral rights in Uinath county and dueshene county. The county changed their websites and I’m having a hard time getting information online. My mom’s name is still in the ownership section because my cousin who did the quit claim for me did it in the wrong county, now since he died I can’t get anyone to fix it. I have an utah lawyer working on it but it a lengthy process and I don’t know how else I can get the shares recorded in my name. Plus in my mom’s trust she split her shares to the 3 of us. My brother wants to give me his share the other isn’t sure. How do we get this straightened out .
You will need to work with the Utah attorney to get the title corrected. You can also ask the attorney about the brothers and how to handle that situation. The forum cannot answer particular legal questions. Best to let the attorney who is knowledgeable in Utah law to do it properly.
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