Bankruptcy and Other Court Notices

Annie-

I’m sorry for the position you have been put in.

Keep everything until you feel you know what you are doing. Even though the company is bankrupt, they will either reorganize or sell your lease. There is a bankruptcy thread in the NARO group you may want to follow. You may also want to investigate NARO and join, as they have a lot of educational materials for mineral owners.

On the DOs, can you tell if they were signed and sent in? If yours are marked “Copy” or similar language, that usually indicates the original was signed and sent in.

Match up the Dos with the checks you are receiving to see if there are wells you may not be getting paid on. Also check them against your tax statements if you are in a state that taxes mineral properties. Learn how to navigate the online map in your state and locate the properties you know exist, and then look for wells you are not being paid on that way also.

It is a process. Think of it as land you inherited and you are learning to manage a shopping center with tenants. You own an interest in land that has oil and gas companies as tenants.

Here is the link for the NARO bankruptcy thread and good luck! - Oil Company Bankruptcies and Info - #124 by M_Barnes