We currently have working interest that we inherited in Eddy County, New Mexico. We have already established ownership in other producing wells in Eddy County with other operators in the same area and all required paperwork has been filed in Eddy County and sent to the current operator of 2 wells that are no longer producing but we should have suspense funds due from 2/2005 through 5/2022 and 2/2024 for another well. How long does the operator have to process this information if all information to establish the transfer of ownership has been given to them and filed with Eddy County? The operator is Kaiser-Francis Oil Company.
This will depend on the suspense issue. If it was for an unknown address for your relative, then Kaiser has probably acted according to unclaimed property statutes. You will want to check the unclaimed property website for your relative in any State where they resided as well as the State of NM. If Kaiser did send the funds to unclaimed, then they should be able to provide some direction in this area. Any suspense funds less than 3 years old should still be with Kaiser. As far as the time, I have had to work with some operators/purchasers for over 6 months on complicated issues.