Section 5 Township 15 North Range 5 West , Kingfisher co.
Cindy, we can help you better if you ask a particular question. I will move this to the Kingfisher Co, OK area for you.
I believe I have royalties
Do you believe you inherited some property?
Yes section 5 township 15N Range 5W
Yes i have all the information should I send it
If there has been a probate, the order should have stated the percentage or share you are to receive. If there has not been a probate (assuming there is no Trust involved), then any revenues from production will be held in suspense (frozen) until the title requirements are met. This can often be accomplished through a simple probate. You should have an attorney review your materials. Richard Winblad
I just got mineral royalties from kingfisher county and still don’t understand if it’s monthly or yearly,explain in layman’s terms
Your timing on royalties will depend upon the Division Order you have and the amount of the royalties available. Many Division Orders have a minimum of $100. I always change mine to $25 in order to get more regular checks once production gets fairly low and my monthly totals would not add up to $100. The Division Order is the contract from the operating company that gives the rules on how they will pay you. You have a decimal amount which is derived from a formula using your net acres, the spacing acres and the royalty amount. How often you get paid will depend upon how much the well makes and what your decimal amount is. If your total adds up to over the minimum, you will get paid. If not, then it will accrue until it is large enough. They do have to pay you at least once a year. Is this clear enough or do you need the gritty details? If you inherited, then you may need to contact the operator and get a copy of the old Division Order. You will need to notify them that you are the new owner and then sign a new one.
No I think I understand, I can live with that , thanks.