I inherited a small percentage of mineral rights in winkler co.i was notified it’s under recievership do to them not being able to locate an heir, but miraculously found me after filing for recievership.I was offered a small some of money to sign it and the past 3yrs of royalties would go to them any help would be great on explaining more about this revievership
Look near the top of this page for the blue rectangle with “+ New Topic” in white letters. Click on the magnifying glass icon next to the blue rectangle and type “Winkler Receivership” in the pop up search bar. The other posts may have information which will be helpful to you.
I suggest you not sign that document and give royalties away until you understand everything about it. You could be giving away a great deal of money. Find out where the minerals are located and with the abstract number you can post on the forum and someone can help you find out the operator and which wells. You can contact them directly and find out how to get into pay status. You may need an attorney to help you get clear title. There are several listed in the Directories tab above. This sounds a bit fishy…
First, do not sign that document. I’m sure what ever they are offering you is probably equal to or less than what has accrued during the 3 years of production.
Who are you saying found you after you filed for receivership? The company that sent you the offer?
You might want to go directly to the Winkler County tax authority and find out if taxes are owed and if so, how much. You and the other heirs may want to find out what they need in order to establish your title and pay the taxes. Also check the unclaimed funds for Texas and see if any royalties are listed there. You say you inherited, but has a probate been actually filed establishing your title? My “fishy” comment may disappear quickly once you find out what is actually going on and how quickly you can fix it. You may want to contact an oil & gas attorney or estate attorney to walk you through this and get good legal advice before signing anything.
I often find in this forum that many of the contributor’s automatic assumption is that the mineral buyer is making an unfair offer or that something “fishy” is going on without any real basis for these claims.
As I have said before, many people review the contents of these forums and it is reckless for contributors to say things like “I’m sure what ever they are offering equal to or less than what has accrued during the 3 years of production” when there is no way for that contributor to have any certainty with respect tot his claim (and I can say with certainty that what is being offered is more than what has accrued during the last three years of production). As many on this forum will advise, the absolute best thing to do is to speak with an oil and gas attorney (most will give a free consultation) and provide him or her with all of the paper work furnished by the mineral buyer in order to insure that you have a comprehensive understanding of what is being sold. I would also advocate for speaking with the mineral buyer directly- you will be surprised how forthcoming many of us are with information.
Christian and everyone else,
I don’t think and didn’t mean everyone that offers some amount of money for some royalty that has been accruing is trying to take advantage of someone.
I’m truly sorry for not wording my previous post better. I have come across some in both instances.
Also, I thought the company making the offer was only acquiring the accrued money, not an outright purchase of the royalty. If that is the case, why would anyone offer equal or more than the accrued money.
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No problem at all Doug, and thank you. I know that you are coming from a place of caution relating to mineral owners getting taken advantage of- so your contributions and remarks on this site are valuable to many of those in the dark on matters relating to mineral ownership.
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I honestly couldn’t agree more, 99% of the professionals on here say “never sell” or imply it’s not a good idea, I suggest you look into Springboard 1 Mineral owners, some sold for upwards of $40k an acre, some held on like you “pros” suggest… Some of those sections have a parent well and likely never see a child well, couldn’t get $10k an acre today as Continental has basically abandoned Springboard 1… Some got rich (the sellers), the non-sellers missed out on an insane opportunity. This has happened over and over since 2012 in OK. Look at Love county, ppl asking $7k an acre, getting $5k an acre, operator pulls app… sell for $1500… like Christian I understand the weariness, but no one on here explains the upside, or the times the seller makes out like a bandit and buyer holds the bag. TBRH I’d bet 20-40% of mineral deals in OK in last 10 years haven’t paid out
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