My sisters and I have mineral rights in Roosevelt county Montana. We all just received paper work for Fort Worth Operating Company in the process of forming the Stone Turtle Unit which includes our mineral right acres. Wants us to commit our royalty interest to the Stone Turtle agreement. I can't figure out what they are doing and if this is a benefit to our family's. Right now we still have two years on our lease with this company. In order for this to become effective it must be approved also by the BLM and the BIA. Can someone please explain this to me and if we should sign this agreement.
Thank you
Leanne Carpenter_Mills
Leanne, Sorry- I am not smart enough to answer your question. I am curious about the location if your mineral rights as our family is also leased with Fort Worth in Roosevelt County. Thanks- Tom
Our Mineral Rights are Township 29 North Range 50 East Section 11:W2
Leanne, We recceived the same paperwork. - I just found out as our lease is in my mother's name- she is 86. I will look into it & share what I learn.
Thanks, Tom
I just received 2 packets from them as well within the last month. Also have a couple years left on previous lease.
I would be leary of it. I am just going to wait it out. I'm looking for same info.
Leanne, I just read a document online that suggests forming the Stone Turtle unit would establish a 5 yr primary lease term on all leaseholds in the unit. It seems signing the document will extend all leases 5 yrs from whenever they get the unit formed without having to renegotiate & pay bonus’. This was not a final draft if the agreement but nonetheless a big RED FLAG.
Tom