My wife received a letter a few weeks ago with an offer to buy mineral rights she inherited probably some 20 years ago we never knew of.her sister just sold her share, and they made us the same offer. The offer seems really low after some research, but I have no idea what we have or don’t have. We plan on contacting Grady co clerk of courts on Monday to get more info on the final decree telling us what we have. From the research I have done lately all I am sure of right now is 1. Don’t take the first offer, and 2. Leasing may be a better option than selling. Other than that I am extremely confused. Thanks for any help. The attachment below is the description we have as of now. 258-image.jpeg (253 KB)
Sounds like you are catching on fast. Finding out what you have is the first step. Maybe the documents your sister have can be of help? How did she know what to sell ? And remember no one buys minerals unless they plan on making money off the deal -- why don't you get a good lease and make that money for yourself and your heirs.
You should already be getting royalties on section 7-6N-6W (Pudge 1-7-6XH) (Continental Resources).
Someone just leased their minerals in section 12-6N-7W for $4,500 plus 20% royalty (double what I got just 3 months ago) (rumor is Apache is planning to re-complete a well they drilled a couple of years ago and then drill 3 additional wells).
We have never even been notified that we had any mineral rights until a few weeks ago when we got an offer to buy it. Her great grandmother is who left them to her I guess some time ago when she passed away. We had no idea. So if we have been entitled to royalties, where would they have gone if not to us?
In addition to what you and Bud discussed above about documents, consider the following:
Continental should have established an escrow account for owners whose addresses are unknown or owners with title problems. I would call Continental Resources' Division Orders [email protected] or 405-774-5257 and see what information they need from you.
It might also be worth subscribing to idocmarket.com. You can get access to view filings with the Grady County Clerk. You can enter your wife's great grandmother's name in the party name field and see what documents are available for viewing.
Stop... Got to run an errand... be back later.
Please post here if the Grady county court clerk gives you the information you’re seeking. I own 100 acres of mineral rights from my parent’s farm, but I would like to find out who owns the other 60 acres. They were originally owned by my uncle’s widow, and they didn’t have any children.
websites you may find helpful
http://gradycountyok.com/departments/county-clerks-office/ (Grady Co. Clerk website)
https://idocmarket.com/GradyOK/Document/Search (Grady County Clerk filings 1989 forward)
http://imaging.occeweb.com/imaging/OGWellRecords.aspx (Permits to Drill, Completions, etc)
http://imaging.occeweb.com/imaging/OAP.aspx (Applications, Orders, etc)
https://www2.oktax.onenet.net/GrossProduction/gp_PublicSearchPUNbyLegal.php (well prod+)
http://www.occ.state.ok.us/ (Oklahoma Corporation Commission)
"So if we have been entitled to royalties, where would they have gone if not to us?"
Oil companies must place money that they cannot dole out to parties entitle to receive a share of the production into escrow accounts in the name of the last person in title.
I certainly would check the suspense funds accounts to see if you have any past due monies owed to either your grandmother or her predecessor in title.
ALSO, in the deed the buyer is asking you to sign, Look for language that states,
"This sale is made subject to any rights now existing in any lessee or assigns under any valid and subsisting oil, gas and mineral lease heretofore executed, and Grantee shall have, receive, and enjoy the herein granted undivided interest in and to all bonuses, rents, royalties, delay rentals, and all accrued and unpaid oil and gas runs and settlements, suspense funds, whether they be held by the operator...."
And again look for any language that includes the appointment of a limited power of attorney to the Grantee.
If those things are present then the answer could very well be that the new owner of your sisters interest will enjoy her share of those royalties once held in suspense for her.
If that sum of monies in suspense is greater than the amount they paid for the minerals you could effectively be paying them to take your minerals.
This is so confusing. I guess my best course of action is an attorney. Any recommendations? We live in az so any help we get is extremely helpful.
Lee: The Court Clerk can't be of any help to your for what you are looking for. You need to go to the
County Clerk's office. In the alternative, what is your legal description and I will take a quick look to see.
If there are just a few owners, I can help. Otherwise, you will need to have someone check the county clerk's records and do an ownership report for your tract.
Todd M. Baker
SnT: You don't need an attorney at this point. Your minerals are in a very good place.
Send me a note and I will help with what I can. I'm a landman, 35+ years experience.
Todd M. Baker
Todd, my sister and I own 100 acres of mineral rights of SW/4 Sec. 26, 10N, 8W. Our LLC is Stovall Sisters Investments. I am Peggy Rittenhouse and my sister is Janice Plumley. I’d like to know who owns the other 60 acres. Appreciate any help you can give me.
http://imaging.occeweb.com/AP/CaseFiles/occ5229931.pdf
SnT, the link is a copy of the 2nd pooling application filed by Continental on section 7-6N-6W. You might look at it and see if you recognize any of the names.
http://imaging.occeweb.com/AP/Orders/occ5240619.pdf (copy of the final order - Pooling)
Thx man and yes I see the names of my wife her two sisters and her brother, this helps. We have been busy and not able to make any calls yet. As I said we are in az so that makes it even tougher.
http://imaging.occeweb.com/AP/Orders/occ5209804.pdf Pooling Order for 12-6N-7W (Apache)
I wouldn't wait too long before I called Continental about section 7-6N-6W and Apache about section 12-6N-7W.