I was wondering if the “Working Interest” signs a memorandum or mineral deed like the royalty owners do!
Depends upon the state. Just a note of caution. It would be very wise to have a good oil and gas attorney, good oil and gas accountant, insurance policy and deep pockets. Working interest is not for the uninformed. They can have nice tax benefits and they can drain you dry and hold your heirs hostage if not done with proper advice.
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I’m a royalty owner, but was wondering when I look at others involved in the same play as us - do they “working Interest” sign memorandums or deeds like we do.
They usually sign a much more in-depth Joint Operating Agreement, but again, that will depend upon the state.