Hello, I am looking for some help regarding some Mineral Leases that I inherited. I have been paid by them in the past, it seems like the payments go out once every three years. My problem is that I moved and haven’t kept in touch with the company that is holding the leases. My sister has leases as well and the only info she had was that she thought it was Bill Barrett Corporation. I Googled that and found they are now High Point Resources.
Any advice on how I can determine who is holding the leases and how to get in touch so I can get check that are owed me?
If you are only getting paid once every 3 years that means youre simply signing new leases that expired due to no production. IF there was production, you would be getting paid every month. Meaning, if theres no production, you are owed nothing until a well is drillled or until you sign a new lease.
Bill sold several years ago, the subsequent company is Bonanza Creek Energy. Highpoint was the initial merger. It sound like you may be a mineral owner rather than an owner of a lease.
Make sure that every time you move, you file a change of address with the county deeds clerk in the counties where you own minerals so landmen can find you. Mineral owners must also inform the operators of any changes in address or they cannot find you to pay you.
Yes, There is no production that I have been aware of. I found a document that says, in part: The enclosed paid up oil and gas lease (“Lease”), dated July 28, 2017, between you as (“Lessor”), and Bill Barrett Corporation as (“Lessee”), includes the following lands in Weld County, Colorado:
I would like to see if it is possible to get my payment for 2020 and 2023. I heard Bill Barret is Bankrupt, now Bonanza Creek. At least I’d like to get paid going forward.
I have no idea if it will ever produce. Its been in the family for decades and no action.
I sent the Weld County Clerk an email asking them ot update my address and contact information. Do you know if I can get the back payment for 2020 and 2023? I assume they were sent to the old address but I wasn’t there.
Yes I own Mineral Rights and as I learn more on the topic, it seems I had been getting a ‘lease bonus’ in exchange for leasing the rights to Bill Barret. I dug some more and I believe that Civitas now owns it. I sent a change address form to them. I also sent an address change request to the Weld County Clerk.
You are started in the correct direction. You will need to file an Affidavit of Address with the Weld County Recorder in order to update the public records. CO has a great O&G website Colorado Oil & Gas Dashboard that will help learn more about the activity on your property. Weld Co Recorder also offers online access so you can review OGL activity around your property Self-Service
Regarding the 2017 OGL, when you sign an oil and gas lease, its a 1 time bonus payment, paid when they file the lease. Im a bit confused by your mention of years 2020-2023, was the lease filed in 2017 a 3 year lease with a 2 year option that was exercised? If there was no production and they didnt pick up the option, they dont owe you anything. Just because you sign a lease, doesnt mean the company has to continue to lease you every 3 years if they dont drill a well if thats what you are getting at?
Thanks for some clarification. I received the payment in 2017. I assumed they would continue to want to lease it every three years. My main issue is that I moved and didn’t think about changing the address and didn’t even think about the payments. So for me to be owed for 2020 and 2023 I would have had to sign a new lease. I know I didn’t do that.
So at this point could I look for someone who might want to lease it? How would I do that? I had always accepted the price offered as the price. Do folks typically negotiate or is there a fixed price. Thank You for all you help?>
One more. .
I am the lessor, owner of the Mineral Rights. I moved and didn’t give Barrett my address. So now I think it is NOT leased. How can I find someone who wants to lese it? Would there be any benefit at this point in running down the lessee at this point?
You need to try the links I provided if you want to discover activity in and around your property. You can find production, drilling and permit activity through the CO site. You can search for OGL activity through the Weld Co site. Contacting companies does not generally work well, but you can try. Another route, is to contract with a landman in Denver to represent you in trying to lease the property. Try LinkedIn.com for landman in Denver area.