My family received a call from Kodiak Oil saying my family owns approximately 200 acres of land in Williams county, and 600 acres of land in Mackenzie county. They said there was money waiting for us, and a ‘landman’ would be contacting us. We haven’t heard from the landman and its been about a year. We have paperwork from my great grandpa who purchased the land saying we get 1/64th of oil produced from our land. Any advice? We are thinking about hiring a lawyer to assist us.
It may be helpful for an attorney to review your deed/s and I would not sign anything until you understand fully what you have.
When you mention "just found out" and "great grandpa", it makes it sound like more than 20 years have passed and probably no one has been recording a statement of claim and they may have been considered abandoned and the surface owner may have taken the steps to claim them.
"any mineral interest unused for twenty or more years preceding the first publication of a notice of lapse under N.D.C.C. § 38-18.1-06 is deemed to be abandoned unless the mineral owner files a statement of claim in the register of deeds office under N.D.C.C. § 38-18.1-04. See N.D.C.C. § 38-18.1-02. "Title to the abandoned mineral interest vests in the owner or owners of the surface estate in the land in or under which the mineral interest is located on the date of abandonment."
I'd be for checking it out before it's too late if not already too late.
1/64th sounds like there could be a lot more going on.
I didn't notice, he says his family owed the land so actually they would be the surface owner but if taxes were not paid on it, it would have been sold. I think he meant mineral rights and the 1/64 was probably the great grandpa's interest in the tracts.
My great granddad, when he was buying land often bargained that the seller could keep a 1% to 3% interest in all oil and gas, in one rare case 7%, John's case may be just the opposite that 1/64th interest went with the land.
I would not want to lease my 1/64th or my portion of 1/64th because 20% of 1/64th will probably marginalize you to death, split how many ways?. On the other hand 1/64th of all oil and gas under 800 acres could amount to something if you are in a better part of Williams county.
I would be willing to have my partner look up your area and do some research. If its in a good area, we would be willing to make an offer to lease it from you.
Please let me know.
Derrick
(701) 570-4502