My brother and I inherited oil & gas leases in Canadian Co, OK from our father a couple years ago and I am working on transferring them to our names. I’ve done quite a bit of research, thanks to this forum and the Mineral Rights Podcast and am in touch with a couple of the operators and with the Co. Clerk’s office. However, I do not understand the lease nor what our father actually had. Nothing I’ve read has really helped. I don’t think his holdings are worth much so at this point, we just need to understand what the lease says. Is there someone who could help us understand this 1993 lease?
- An experienced land professional (lawyer or landman) could help you with the lease.
- HOwever, with that said, i think it is more important to contact the operator and determine if your father owned an interest in the well(s). If so, is the well still producing, is this interest in suspense, how do you get paid, etc.
- You might check the unclaimed property fund in Oklahoma and the state where your father resided, to determine if they are holding money of your father or you.
Thank you tim_dowd. What is the best way to find a good landman or lawyer to read the lease for holdings in Canadian Co, OK? I am in Massachusetts. I am in touch with all the operators I can reach. I will check with them again. I have been looking up production and active vs inactive well information. I am not sure if we have an interest in wells on the same land that are not listed on the lease. I’ve been checking the unclaimed property sites as well.
If you will list the legal description of the OGL, then some of the professionals may be able to help you with some research options as well as get you some initial data. You will also want to check the OK Mineral Owner Escrow Account for any listings. That will link you to any relevant pooling orders. Good luck.
I use Tim Diehl out of McAlester. He is a trustworthy and knowledgeable land man and familiar with minerals, gravel and surface rights etc. I have used him in Atoka Co, Pittsburg Co, and Pottawatomie Co. he seems well connected as well.
When you say inherited leases, do you mean minerals or did your father actually take the leases or get an assignment of leases into him? 2 completely different ballgames. Are you or have you been getting montly check stubs from the operators? Those should have his interest on them. If the OGL’s are from 1993, you can you pull up the OGL or assignment on (Canadian County Clerk) and post it on here and someone will help you out. Im not sure what problem it is you are trying to solve, but all of the county records are online from 1988, youll just have to create an account on the link above and call the clerk to get it approved and then you can search your dads name/company, if that helps at all.
The first thing is to determine if you inherited an interest in and Oil & Gas Lease or a mineral interest in a section that has wells on it. It is quite common for folks to say they own an interest in a “lease” when they only own a mineral interest in a producing well. Owning an interest in an Oil & Gas Lease means owning a working interest in the well(s). When you say “this 1993 lease” are you referring to an Oil & Gas Lease that your father executed in 1993? Understanding the difference will put you on the correct course for action.