5th Generation Mineral Rights owner…wells have not been active since late 1960’s I’m told. For whatever reason this information has been skipped over a few generations and was recently discovered and my parents (still living) set up the Mineral rights in a Trust for me and my siblings and just received a copy of the notarized Mineral Deed. It lists 20 different sections of properties all within Caddo County, and 1 in Alfaflfa County but with no well numbers. Do I need to find the well numbers? This is my next step. My mother mentioned there were about 7 wells back in the 60’s. My parents are aging and not too familiar with any of this and I’m doing as much research as I can and I do thank everyone on here for their support thusfar on other threads I’ve read up on.
What is next? I’m looking to contact a company to have a feasibility study on the existing wells…at least that’s what my research directs me to do unless there are other avenues I should pursue.
Steve- I personally would spend any money on a feasibility study. Just make sure your correct contact information is of record at the county clerks office & the landmen will get ahold of you when activity warrants. You can check activity at the OCC for each of your properties. If there is production you can then contact the operator about getting your interest in pay status.
Todd M. Baker
First of all, make a list of each of the descriptions and put them in section, township, and range order.
The drilling world has changed since the 70’s. You may have old vertical wells that are no longer producing. However, you may have deeper shale zones which might be looked at for future drilling.
You need to make sure that the trust name and your name and address plus that of your siblings is filed in the county courthouse for Caddo and Alfalfa so leasing agents can find you.
You do not need to hire anyone at this point as you can do the research for yourself for free. You may get offers to sell. Do not bite until you have figured out what you have. If all of those properties are listed under one deed, never lease them all at the same time. Each one needs to be leased separately so they do not tie together.
After you do your research, you may want to get professional help, but learning how to find info is the basic step in understanding the business. A feasibility study might be wise at the end of your research, but you will have a better feel for that after you understand what you have and where it is. Deeds do not typically list well names as they are transient. The deed is usually for the mineral rights which are long lived. Royalty deeds are a different issue.
Use the Oklahoma Corporation Commission well records site to look up each of your sections. Type in the section, township and range in the location box. Use leading zeroes if necessary-0109N9W for example. Test
Part of Caddo has some very old water flood fields, so you need to check that possibility. Again, type in the section, township and range to see it you are involved in any of them. OGUnitization
Here are links to a map of Caddo county. You can mark your properties on it. Make notes as you learn on the forum about your areas. Ask questions and empower yourself and your family. Caddo County Map.pdf (482.5 KB)
Does the trust begin now? Or does it begin at your parents’ death? The answer will have tax consequences.