My family recently inherited some acres in this section. We as a whole signed a lease to Capital Land Services, fro 100 net mineral acre for 3 years with a 3/16ths royalty, and a 2 year option. So far, we've managed to get money from Barnes Oil from the Oklahoma State of Unclaimed Property but not a dime from the above Oil Company.
So, basically we got took the first time around, is what I'm gathering. Our thoughts were if they are horizontally drilling and we want more money, they can just suck the minerals out and not tell us about it, and we get nothing, or close to nothing.
What am I missing here, anything? I've submitted a complaint the Oklahoma commission as I'd like a full audit of the situation.
In addition, in another parcel in Seminole handled by several hands including but not limited to Sunoco and Enerfin, I've realized, the Oil companies would really prefer to just hold onto ALL of the money and work with creative accounting to reduce the payments out.