Hi, I’ve recently received an offer to lease or purchase gas and oil rights and so have two out three of my other siblings. I want to possibly do some negotiating with Antero because I have the feeling that they made a low offer but I really have no idea what I’m doing or what the rights might be worth. On top of this one of my siblings who has a reputation for being underhanded has informed me that the last check received for royalties was for 14 cents and he has no interest in following through with any agreement. Now if you knew my brother well that would automatically send up a red flag because he has never not cared about money. I don’t know the details because he is usually not forthcoming with information but I believe royalties were being paid to my recently deceased Father. I’m curious if there is any possibility that he can make an agreement with Antero and the rest of us siblings would be cut out receiving anything.
Assuming all three of you each own 1/3 of what your father did, and its not in a Trust or something similar, each of you, which would include your brother can make their own deal with whomever on their own terms, but it only affects his/her own interest. Put in a different way, your brother could make an agreement with Antero, but this doesn’t impact the other 2/3. A could sell his interest for $2, B for $1000, and C chooses not to sell. A and B’s decisions down affect C.
First, are you talking about mineral interest that was already leased by your father? If so, then you and your siblings would inherit the mineral interest. If that’s the case and it is already leased you all will be the owners.
Please excuse the time lapse between responding I’m at work now. I work nights and have very little free time.
I’m not sure. My brother said that the last check they received was 14 cents. I asked him the name of the company and he started acting like he knew nothing and didn’t care to know anything, said that he ripped up the offer and through it in the trash because it wasn’t worth his time. The paperwork asks for some lineage confirmation with a notarized signature. From what I read it looks like the last rights owner was my father’s, mother’s, father. Due to the fact that they are making me an offer leads me to believe that they do not currently have a lease in affect. Maybe Due to my father passing. I just don’t know anything but I find it all intriguing would love to figure it out just not sure of the steps to take.
This could be a different tract of minerals they have searched out. Also, i have seen uniformed land agents try to lease tracts that already are leased. You need to determine what this tract is first. Your fathers interests would be on file at the courthouse along with the leases he had. The tax numbers for these can be obtained too. This would determine what the interests are. The gas/oil company should have the numbers to help clarify what tract or tracts they are talking to you about. These companies sometimes will try to buy an interest instead of leasing. Some of the folks on here could write a book on all the scenarios that can occur. Who in your family has been paying the taxes. Whomever is paying the taxes would have a tax ticket that has the description of the mineral tracts. I believe Tyler has online records. Someone should chime in on here to verify if they do or don’t. Hope this helps you.
OK thank you, trying to find tract numbers now though County clerks office. Found land owner for one parcel so far. And the surface owner for that plot owns 1/5 minerals. Still digging for more info
hold out… no less then a grand and acre. and at less 14% at well head. forced pooling was struck down in west virginia… o’ i got burn… i took 500 acre. at 14% folks are getting more… make sure you lease says (at well head). if you got 250. contact nutter l.l.c… but he give out advise for free. representing costs.
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