I just recently learned that my aunt and I own mineral rights on some acres in this section, and received an initial offer. Can anyone give me pointers on how to figure out what a fair current market price would be?
Thank you
I am looking over the WebRoyaltyOwnersHandbook.pdf mentioned elsewhere, but not having a lot of luck figuring this out. I've also looked at the OCCEWeb site, and looked for wells in Section 25. I can't say I have a clue how to interpret what I am seeing.
There are a lot of wells drilled in Section 25, some of which are part of NE PURDY HART SAND UNIT.
Go to:
OCC Imaging - OG Well Records
and enter 2504N04W in the box next to "Legal Location" to see the list of the wells in the Section. You most likely do not own under the whole Section.
Can you give us a specific tract that you own in Section 25?
Are you receiving run checks for any wells in Section 25? If so, which ones?
Thanks for the reply
When I go to OCC Imaging, the only link I see close to “OG Well Records” is “Oil and Gas Well Record forms”. Clicking that leads to a web form the first entry for which is a drop down list of form numbers
As to a more formal description, I don’t know yet. My grandfather bought the mineral rights to 10 acres over 55 years ago. I just learned about this on 10/18/17. My aunt, who owns half of this, remembers the purchase but no other details
My grandfather was George Phelps. Some of the things I am trying to figure out are current value, rough, and if we are owed any royalties, and of course how to get the details so I can navigate this reasonably well
Thank you
On the line with the second option, put the legal description in the box to the right.
Then go down and click on the s"Search" button.
If you only want completion records, choose "1002A" in the drop-down list on the first line.
Thank you, Frank. I was able to complete the query and see around 50 open wells and about 4 completed. I have been contacted again by Crestwood exploration, and they gave me the quarter of the section the land is in (NE) and the names of a couple of the wells listed for that quarter. Going to see if I can contact the operator(s).
This is what I was given regarding the wells:
25-4n-4w - NE/4 production info.
A.L. Beach well - charter oak production Beach 1-25 - rimrock resource operating
Any further suggestions?
Thanks again.
So you (or your ancestor's estate) should be receiving run checks on the Beach 1-25. If not, you should investigate why not.
Thanks. Been trying to get onto OCCEWeb to look at both, but having issues connecting at this time. I'll try again later
Is anyone else having issues reaching the OCC site?
The site is back up now--10.31.2017.
Thank you, Frank.
I have gotten a name and number for someone at Rimrockk (lots of calls and voicemails, but no return calls...finally randomly got someone in their office who gave me a name and number--we'll see how that goes).
Meanwhile I did finally call the OCC directly and got in touch with a very nice lady who helps mineral owners.
My wife and I are going to Paul's Valley next week to look up the legal description for the 10 acres we own, after which I will call OCC back and get help there.
We also plan to go find the actual property in question, see if we can lay eyes on it and any active wells in the area. Maybe talk to neighbors and get some better idea of what we have, what its worth and how best to proceed.
Looks like you should be getting runs from at least two wells:
PUN: 049-092295-0-0000 BEACH #1-25 RIMROCK RESOURCE OPERATING LLC
PUN: 049-032827-0-0000 A.L. BEACH CHARTER OAK PRODUCTION CO LLC
Scott, do you mind if I ask what you got offered. Curious to compare it.