hello after a few years of probate title and ownership in our names, My wife ad I a bit clueless as to this whole precess, we get a small residual check every 3 moths and are now getting letter to sell ? we have 10 acres in Mountrail County township 158 north-Range 94 West section 11 NE/$ E2NW/4 this was a four year lease signed 2010 ? the well is named JORGENSON ? any advice ?
Welcome to the forum! Lots to learn.
First of all, you might want to read the “Mineral Help” tab above. It is quite useful for the basics. Also read the BLOGS category.
I am moving your question over to the Mountrail County, ND area since we keep the questions separated by area.
There is a lot of mineral buying going on right now. I personally ignore most of it because the offers are low and many of them are just mass mailings. Anyone offering to buy is pretty sure they will make a profit off of your minerals. I would rather keep my own profit. (Of course, there are good reasons to sell such as medical bills, etc. but there are ways to get better prices than a generic offer.)
You need to find out the activity in your area, are there more wells to be drilled, who is the operator, etc. Your checks will probably be from the operator. Look them up online, read their investor presentations, etc. Your operator is Petro-Hunt. Your section is being held by one well. There is room for more drilling if they choose to do so when (if) prices increase. That well is probably going to last for a good long while.