I have a series of conveyances of mineral interests in Stephens County, OK.
Set 1: In the first set dated 1994, several individuals conveyed mineral interests found in “tracts of land” known as the EVWB Humphries Sand Unit and the EVWB Sims Sand Unit to an entity known as the Permian Basin Acquisition Fund.
Set 2: In the second set of conveyances, the Permian Basin Acquisition fund transferred these exact same tracts of land to four individual people (who happen to be siblings). The description of the property (and and minerals) is exactly the same as above.
Set 3: In the third set of conveyances, Leases from producing wells were transferred from the 4 individuals to each of their trusts. This conveyance to does not include the complete tract of land described above, just wells.
To be specific the Tracts if land in Sand Units are described as follows:
Sections 29, 32, 33, 34 (T1S R4W)
Sections 2, 3, 4 (T2S R4W)
In the third Conveyance multiple leases are transferred from each individual to their own trust. The legal descriptions of the leases do not include Sections 2, 4, or 29. Doesn’t this mean the above mentioned individuals still retain land and minerals in sections 2, 4, and 29?
It is possible. Would be wise to get a landman to trace the title at the courthouse. You may not have all of the documents needed for clear title. You can also look up the areas on www.okcountyrecords.com.
As good as your descriptions are, it is difficult/impossible to provide title opinions without examining the actual instruments. From your descriptions, it sounds like the trusts were established by an attorney that was unfamiliar how to fund it with mineral interests if only leases & wells were transferred.
This post is not legal, tax or investment advice. Reading or responding to this post does not create an attorney/client relationship.
Perhaps it was some type of income trust leaving the reverter interest with the owners if, or when, the production drops below paying quantities and the leases expire. That could be one reason for only moving the leases and wells into the trust.
I have the following: EVWB Humphreys Sand Unit TR 15, EVWB Sims Sand Unit TR 21 and
EVWB Sims Sand Unit TR 22. How many tracts are there in these areas? Am I asking a sensible question in regard to these wells? Stephens and Johnson is the operator. These are in section 34 01S 04W
You can look up the unitizations on the OCC website. https://imaging.occ.ok.gov/imaging/OGUnitization.aspx
Type in your section number as shown below. You see all the available documents. Scroll through the unit plans toward the end and you will find a list of tracts and the maps that go with them. Come back if you have questions. I usually print off those few pages and put them in my files. I save the whole document digitally for reference as to decimal amounts, reservoir included, etc.
