I am hoping I can get some help here because I am not sure what to do. My Mom passed away 3 years ago. She was getting royalty checks from Linn Energy but was sold to Roan. Called Roan to get more info. and they asked if there was a will or probate which there was not. They advised that i needed to send in death cert to get a affidavit of death and heir ship filed so I could could sell if I wanted to. They said I should not sell because “Grady county is heating up” (whatever that means)! At issue is 3/16th lease royalty. I don’t know how to find out anything about this lease or whether or not she owns anymore leases. She never talked much about it. Been getting a ton of offers to sell. Totally new to this. So many questions but for starters need as much info about this area, advice on future income estimates and any idea on what the lease is valued at? offers have ranged between $4K to $9K/ net mineral acre but Roan is telling me long term it could be substantially higher. Thanks in advance and glad I found this forum.
In the Ownerregistry.com it shows 27 10N 05W awaiting results of a well that drilling started 4/26/2018. My story is identical to yours , i am a few weeks away from a probate being finished , took about 8 months . I have had many many offers to purchase acres in section 30. I am personally not selling and there are several other sections near , that have things happening . Get informed is all i can say this is a crazy life experience. Best of Luck.
Darrin:
If you paid the mineral registry, you have been scammed. Save yourself some money the next time around.
Todd:
Good advice this should go viral.
Sorry for your loss. A Grady County Probate will probably be needed. Often this can be quickly handled. Grady County land records are available online to subscribers. It is hard to tell if the offer is good for without searching other transactions. The price paid can be computed from document taxes. I know of one individual who received $19k per net mineral acre.
Linn Energy (may be Roan depending upon the section) has filed for increased density for your section. They plan to drill three more wells. You can’t sell anything until you probate or get the affidavit filed, but given that you have three more wells, you probably need to get the probate done first to get the royalties that are being held for you on the first horizontal wells that were spud earlier in the year. Personally, I would not sell there as there is room for several more wells beyond the three.
Get familiar with the forum as there are quite a few OCC links that are frequently posted. Look up Roan Resources on line and see what they are telling their investors. Any time you have offers to buy, they know something you don’t and they expect to make a profit. When increased density orders are filed, massive “want to buy” letters go out with fairly low offers just to see if folks will bite. Get your legal affairs done first, do your homework and wait for those first royalty checks to come in. Then make a decision.
question where do i get Grady County records? Also, how much does grady county probate cost?
I found this: https://ir.roanresources.com/overview/default.aspx is this what I need to look at to see what they are telling investors?
I found this: Roan Resources - Investor Relations is this what I need to look at to see what they are telling investors?
Yes, look up their most recent presentation. Take them with a grain of salt, but they usually do have nice diagrams and give a sense of the activity.
do you all recommend working with a mineral acquisitions company? I have had several contact me to tell me they can help. I am just unsure if this is a good move. thanks
TMGoldsbe:
What exactly is it that you are trying to accomplish? Then we can help you go in the right direction.
Todd M. Baker
I need to find out if she owns anymore leases.
This is the online Grady site. You can also look on okcountyrecords.com for her name. Online records only go back so far.
Do not rush into selling. These sales offers are usually low. You are about to be eligible to get royalties from several horizontal wells. You will have to do the legal work in order to receive them.
Thanks so much. I really appreciate your help!
can you clarify what wells I will be getting offers on? also, I found out that the total acreage is about 640 and they are telling us that we own 1/8 (3/16 of 640 if I am calculating that correctly?) Does this make sense based on what you are seeing?
The total section is 640 acres. There are about 169 mineral owners in the section. Her acreage will be a part of that. The deed and any probate records from her are what you need to find as they will give the exact descriptions of the acreage. Roan will have the records by now (hopefully) of how many mineral acres your mom owns. They would have gotten it from Linn. At least for this section. Contact the Division Order analyst for this section. They can tell you if you can file an affidavit of heirship for her heirs or if you need a full probate. If she was a resident out of state, that may complicate things. Check the unclaimed funds for her state of residence and also Delaware since many companies are domiciled there. Also check Oklahoma.
idocmarket.com is the link to the Grady county records.
What you really need to know is if she owns any more mineral rights in other sections. You have to have mineral rights before you can get a lease. She may have minerals and no lease.
If you use an acquisition company, they are going to want to buy the minerals. Better to find out using the internet and maybe a land man and not have that pressure. Unless you really do want to sell. Remember that you have royalties coming to you. Maybe you want those instead.
Start with Grady County and look up her name (and any possible way to misspell it) there first. Then use the www.okcountyrecords.com to see if you can find anything in those counties they represent.
The long horizontal wells will be spud from section 14-10N-5W- McNeff 22-27-10-5 3XH, McNeff 22-27-10-5 3XH-both spud in April and May of this year. They came online in August 2018, so you should get Division Orders in about February 2019. Section 22-10N-5W- McNeff 22-27-10-5 1XH, McNeff 22-27-10-5 2XH. These two wells came online in September, so you should get Division orders by March 2019.
There are old Hill wells from back in the 90’s that still have production. You should be getting royalties from them. Start with Roan and see if they have a copy of the original lease or can tell you the book and page.
Thanks so much for this info! I will keep you posted.