New to Forum. Have questions about leasing Section 2 9N 9E and will probation in Oklahoma

Oklahoma Mineral Rights Hughes County, OK
1

My husband's family just inherited mineral rights In Hughes County Sec 2 9N 9E. We were contacted about leasing mineral rights. What is going rate on leasing in that area? Also the will was probated in Texas...does the will have to be probated in Oklahoma to establish ownership in mineral rights before leasing? Also any suggestions in any matter regarding this would be appreciated. We are all new to this

2

Affidavit of Death and Heirship, will and death certificate should suffice. Ancillary (an abbreviated probate process) is your other option. Apparently something has been filed on your family’s ownership for you to receive lease offers. This is most important.

3


Thanks so much for your response Stephanie. Cetainly we have the will, death certificate, probation papers. When you say affadavit of death and heirship...are those different than death certificate and will? Any suggestions would be greatly appreciated.
Stephanie Wilbanks, CPL said:

Affidavit of Death and Heirship, will and death certificate should suffice. Ancillary (an abbreviated probate process) is your other option. Apparently something has been filed on your family's ownership for you to receive lease offers. This is most important.
4

The Affidavit of Death and Heirship is slightly different for each company. When completed, most likely the company paying the royalties will ask it be filed in the county where the mineral rights are located. A death certificate will have to be included. My family has used them for three different companies and they have been sufficient to get the royalty payments however, if you decide to sell the mineral rights, there are certain conditions that have to be met for the Affidavit to suffice as proof of ownership. We have decided to have the estate probated to ensure marketable title (ancillary probate). We got two estimates of approximately 2000 dollars to complete an uncontested probate. Recommend you at least consult an attorney.

5

Thank you for your response. That is the information the leasing company gave us too. However we were not sure how legal it would be. and did not know if he was given us correct advise. Do you have any info on the going rate for leasing or buying mineral rights in this area? Thx again

The Affidavit of Death and Heirship is slightly different for each company. When completed, most likely the company paying the royalties will ask it be filed in the county where the mineral rights are located. A death certificate will have to be included. My family has used them for three different companies and they have been sufficient to get the royalty payments however, if you decide to sell the mineral rights, there are certain conditions that have to be met for the Affidavit to suffice as proof of ownership. We have decided to have the estate probated to ensure marketable title (ancillary probate). We got two estimates of approximately 2000 dollars to complete an uncontested probate. Recommend you at least consult an attorney.

6



Marietta Price said:

Thank you for your response. That is the information the leasing company gave us too. However we were not sure how legal it would be. and did not know if he was given us correct advise. Do you have any info on the going rate for leasing or buying mineral rights in this area? Thx again

The Affidavit of Death and Heirship is slightly different for each company. When completed, most likely the company paying the royalties will ask it be filed in the county where the mineral rights are located. A death certificate will have to be included. My family has used them for three different companies and they have been sufficient to get the royalty payments however, if you decide to sell the mineral rights, there are certain conditions that have to be met for the Affidavit to suffice as proof of ownership. We have decided to have the estate probated to ensure marketable title (ancillary probate). We got two estimates of approximately 2000 dollars to complete an uncontested probate. Recommend you at least consult an attorney.

7

I do not know about values in Hughes County. You should contact a landman.

8

My relative recently received royalties of $500.00 per mineral acre in Hughes County to lease his minerals.

9


Thank you so much for the reply. Do you happen to know what section your relatives land is in? Our land is in Section 2 and our offer was much lower than that. We are just trying to figure out what is a fair price.


Karla Marie Lott said:

My relative recently received royalties of $500.00 per mineral acre in Hughes County to lease his minerals.

10

The property is in Hughes County, Sections 1, 3, and 12, Township 7 N Range 10 E. You should contact PetroQuest. They are in the area right now I believe.

Karla Marie Lott said:

My relative recently received royalties of $500.00 per mineral acre in Hughes County to lease his minerals.

11



Marietta Price said:


Thank you so much for the reply. Do you happen to know what section your relatives land is in? Our land is in Section 2 and our offer was much lower than that. We are just trying to figure out what is a fair price.


Karla Marie Lott said:

My relative recently received bonus payments of $300 and $500.00 per mineral acre in Hughes County to lease his minerals on a 3-yr paid up lease with 3/16 royalties on any production of oil or gas. These were signed in 2013 & 2014.

12

Thank you so much for info. We will check into PetroQuest!



Karla Marie Lott said:



Marietta Price said:


Thank you so much for the reply. Do you happen to know what section your relatives land is in? Our land is in Section 2 and our offer was much lower than that. We are just trying to figure out what is a fair price.


Karla Marie Lott said:

My relative recently received bonus payments of $300 and $500.00 per mineral acre in Hughes County to lease his minerals on a 3-yr paid up lease with 3/16 royalties on any production of oil or gas. These were signed in 2013 & 2014.