Hello – we’ve recently inherited mineral rights and plan to meet with a professional to discuss the specific tracts to crosscheck the list of active wells/companies and make sure we haven’t missed any.
I would certainly trust any lawyer we may hire, but discussing your mineral rights with say, a landman/consultant, is there any information that is dangerous to give out? Is it secure to tell someone the exact tracts you own, decimal percentage, royalty amount, etc.? If I were to forward a royalty statement, should I redact the owner number?
In short, from a security/theft perspective, what information is safe to disclose to a stranger? Thanks for any feedback.
1 Like
a. do your diligence on who you hire to do anything for you. understand their experience, background etc., and
b. prepare or have them provide you an engagment letter that has language with teeth in it about them serving you and you alone, and put them on the hook for not sharing your information outside of what you approve. anyone who is an actual professional will have no problem with this. if they can’t or won’t provide this simple, professional courtesy and duty, move on.
2 Likes
Use a reputable Oil and Gas Attorney first. Ask him about the landman that he would use and any questions as to what info you should or shouldn’t give to landman. MK just my $0.02 cents worth
3 Likes
Almost all of your mineral information is available to the public at the county clerk’s office. Nothing proprietary except your tax ID information.
4 Likes
Yes I see people post their exact sections and we get offers in the mail that list all of our active wells and interest decimal - as pointed out, that is all public info. We will be sure to research anyone thoroughly if thinking of working with them. Thank you all for the responses!
1 Like
You may also make sure that your landman is registered and licensed with the AAPL. That ensures they are committed to certain ethical standards and there are repercussions if you need to report them for a violation.
2 Likes