I recently just inherited mineral (oil & natural gas & other) in Wetzel County, West Virginia that apparently goes back to my grandfather back to the 1950s. I have 3 claims. I just received my 1st royalty check of $2163. Will this be a normal monthly check +/- in this range? Im also wondering if I shouldn’t look into selling the rights as I could definitley use the money. Any input or direction would be so greatly appreciated! I have no idea about any of this stuff. Ty Jesus for the blessing though! Ty!
In all likelihood, this check amount will not continue. My guess is this is a little larger, because of one of a few things. The revenue could have been in suspense since your ancestor’s death and you signing a division order. That could be a few months. Also, if the well just started producing, the check may be for six or less months of production. You can figure out what the check will probably be by looking at the check stub. It may have notations such as 9/24, 10/24, 11/24, etc. Those are the months of production. If this is shown, look at the most recent month of production and how much money was shown in that month, that is (probably ) going to be the revenue next month. As to selling, you should wait until you start seeing what you make every month so you have some idea of what you are giving up in a sale. Wait until you see an average of revenue in a month.
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Tr Thank you! I appreciate your input!