In preparation for the upcoming legislative session, NARO-Texas is looking for good examples of the “royalty lease scam” being perpetrated these days. This involves approaching someone with an active lease and producing well, usually elderly, and presenting what looks to be an oil and gas lease. In return for a lump sum payment, the document is actually selling 75% of the royalty stream in the lease. The document is usually presented as a top lease. If you know of anyone who this has happened to, please contact Wade Caldwell at [email protected]. NARO-Texas is working on a legislative solution to stop these scams.
I am a mineral right owner. A bank account was to be set up at a bank and there never was a account set up. The place that the oil and gas lease was set up with closed down. Every lead that we have tried hits a dead end. We need help to find out what has happened to our oil and gas mineral royalties. What’s really going on.
You are probably referring to language in older leases where the operator can tender certain payments. This may not be the scam referenced above, but you are welcome to send me what you have so I can review.