I apologize if this post has been seen before but I am new on this site and am just figuring out how to navigate it. In any case, I need some thoughts on the best way for ownership of inherited property in Reeves County. Four siblings inherited a 40 ac parcel of land with active oil & gas lease with drilling started about three weeks ago. The land is still in the estate until a resolution on how to resolve ownership is reached. Three think it best to take ownership under a Tenant in Common and one wants to partition individual 10 ac parcels or, at the least, partition his ownership and let the remaining three form their TIC for the remaining land. With a well pad site, existing easements, etc it seems it would be hard to fairly divide the property into individual parcels; also, do energy companies prefer to deal with a larger unit or smaller units, sole owners or TIC ownership? There is also the question of future generations owning the unit, many who will not know each other in the same way siblings do. I'm sure other folks have dealt with a similar circumstance but haven't seen any discussion on the subject.
Thanks in advance for any help or suggestions