Franklin Mountain Energy has refused on newly drilled wells to pay an override that I received in 1996. The reason given was that my override was assigned via a contractual interest owned by Amoco/Meridian and they could not verify leasehold interest. However, Devon drilled wells on these properties prior to the sale to FME and paid my override in full.
Has anyone else hand a similar experience?
I would trust Devon’s Title Opinion over FME. Have done business with both companies. Good luck - get an attorney
Coterra just bought certain Delaware basin assets from Franklin Mountain, but not sure if yours are included. Time for an attorney.
Yes. Coterra is closing their deal around March 1, 2025 and my property is part of that package. I’ve been trying to get my issue resolved since October and they waited until 10 days ago to tell me that they did not believe I was entitled to my ORRI interest. It’s very odd since all operators of the properties since 1995 paid royalties, including Devon that drilled three wells in 2014 and 2015. Of course they have now kicked the can down the road and advised me that I will have to deal with Coterra to resolve, per their last email, this “convoluted” matter. Of course, I interpret convoluted to mean uncertainty. Hopefully, this issue will be resolved in my favor.
I appreciate your advice and I have retained an attorney to advise me.