Hello, my mother grew up in McKenzie Co. and I am fortunate to receive some of the mineral rights she held on to for so many years until her passing. She was getting a substantial royalty income the last few years. 6 figures. Now her rights have been divided by three. Me, and my two sisters. We are getting monthly royalties in all of our own names now. I am in the dark here completely. I would like to know how I can determine how many mineral acres I now “own”. I get hundreds of pages of data with each check. But really makes no sense. Do I need to hire somebody? I believe collectively my sisters and I own approx 5 or 6 sections worth. At least a small interest. Most in the Siverston field, some in the Elidah.
Welcome to the oil business and the forum.
You have several places to find the information. The probate documents may have had the minerals listed. You may have minerals that are not yet in production.
The second place to find out is from the operator(s) that send the checks. Call the Division Order analyst for the company and ask them to send you a copy of the paragraph of the title opinion that pertains to your acreage. Tell them that you are an heir and trying to figure out what you have.
They will need the names of the wells from the checks. The checks give you quite a bit of information. The checks look overwhelming, but once you know what to look for, they are a gold mine and you can figure it out. Each company’s check stubs look a bit different, but in general, they have about the same information. They will have a header at the top that tells what the columns are. They usually have a property number, a well name, the date(s) they are paying on, the gross volume of oil, price of oil, any deductions and then the decimal amount, the net volume that is yours and the net royalties that are yours. Same thing for gas and maybe natural gas liquids. Read from left to right and line up the columns.
You need to tell the analyst your mother’s name. your name. the name of the wells, the decimal amount for the wells and then they can help you. Ask them what they are using for the net acres and what is the royalty amount.
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