Don, Have dealt with them. They will hold your revenue as long as possible. Tom
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Tom- there is a difference between merchantable title & marketable title. It’s up to the mineral owner to provide marketable title to get paid. Operators are not required by law to pay you for merchantable title, but they sometimes do.
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Chronological events summary:
1951 - purchase of minerals
2000 - journal entry of judgment
2014 - affidavit of death and heirship
As I recall… The affidavit form was downloaded from the Vitruvian website. Vitruvian had obtained the original well for section 27-4N-6W. Two years later they drilled the first horizontal well. We have been receiving royalties on those two wells since. When Gulfport took over Vitruvian’s wells we continued receiving royalties. Gulfport drilled three additional wells and we received division orders for them in August 2021. The division orders had two decimal numbers each. One for the minerals received from two great aunts and one for minerals received from the grandparent (the funds in suspense) all via my dad. I should have inquired sooner, but I waited until the end of January 2022 to ask about the royalties from the grandparent’s minerals. In March, at the request of the Gulfport analyst, I provided a copy of the journal entry of judgment. Again, the judgment makes no reference to the minerals. Funds are now in pay status… we are now looking forward to the end of April…
Sidebar… dad declined an offer to sell those minerals in 2014, when the affidavit was all the mineral buyer said he would need. He even offered to help prepare the document.
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