I inherited mineral rights (royalties?) from my dad, an Oklahoma native, 20+ years ago. I have looked at sites searching for information such as:
Q…Is there oil, gas, shale, wells, on my mineral lot areas?
Q…How do I see activity over the past many years. (I called Chesapeake last year and was told there is no current activity now or for many years for my mineral area). Then I received a check from them in the amount of $.99 end of December 2014.
Q…What does it really mean to have mineral rights.
Q…I recall in my initial receipt of these mineral rights when dad passed that the rights would not passed to my children but ends upon my death.
Basically I know very little about this industry.
I have the feeling should I wish to sell my mineral rights (if I were even allowed to sell or transfer to anyone) the value would be neglible.
Can anyone enlighten me?
Thanks,
Connie Reeder
3509324598. CAIN 1-29. (AC) Drlled not plugged. 29 20 N. 13 W NW4. CSE4.
Also found 3593245980001 NW SE C. ? This is directly under the name CAIN but instead of CAIN it’s blank
www.appsocceweb.com was the source of the above info. But I don’t know what this info actually means. Does it tell where the minerals are located etc??
I don't understand why you would to sell you inherited mineral rights. Educate yourself about what it means to own mineral rights (in Oklahoma.) You may be able to enlighten "yourself," and then make some decisions. For your last question, why don't you get a copy of your Dad's Will and read it. The passed down minerals gotta go somewhere.
I suggest that you spend some time learning to navigate the Oklahoma Corporation Commission website (http://imaging.occeweb.com/imaging/OGWellRecords.aspx). You can learn a lot about production in a particular legal description from this site. Additionally, you can often call the OCC and inquire about current production for a particular legal description.
You should definitely have a copy of the Will or Trust where you took title to the mineral interest. Ownership of mineral rights has different meanings based on your exact ownership - i.e. do you own a life estate, an override, a non-participating royalty interest. If you only own a life estate, then you may have the right to lease the mineral interest without the joinder of the remaindermen, additionally, you may only be entitled to the bonus payment on the lease and not the income from production. As you can see - very important to know the extent of your ownership. A good way to see what you own is to check the deed by which your dad took his interest.
Hello. I don't own minerals in Washita County, but do own minerals in Garvin and Hughes Counties. In 2010, I signed a lease, drilling done by BRG, Ok. City. Dry hole.....then plugged. I had some good advice from a driller. He said specifically..........."hang on to those minerals." I am doing just that. Oklahoma is hot. Those minerals are my legacy from my late daddy and momma. I have noticed a trend, of late, that LANDMEN are actively BUYING.......not paying out bonus lease monies. I received recently a nice fat 'bonus lease check' for my minerals in Hughes. There are folks......a Landman by the name of Chris Willis (conchojobs) who offers help via the forum for novices such as myself.. He will willingly answer your questions. There are a couple of other LANDMEN......very knowledgeable postings by a LANDMAN on my HUGHES COUNTY GROUP who have helped me immensely by just reading their postings. I agree with Pat Malone, above i,e., ........Educate yourself!
Clint, I am just very curious.......please tell me what those letters stand for on your cap, and that firearm....what make? Am I looking at a glock? And why 'not' just post your face so we forum folks can get to know you a tad better. :-)
Clint Liles said:
Connie,
Welcome to Mineral Rights Forum and the Washita County Group
Connie, oops....need to make a correction on a name below that I recommended. Re (Conchojobs) the correct name should be Troy Curtis......'not' Chris Willis. Sorry.....my error..........Leta
Leta said:
Connie,
Hello. I don't own minerals in Washita County, but do own minerals in Garvin and Hughes Counties. In 2010, I signed a lease, drilling done by BRG, Ok. City. Dry hole.....then plugged. I had some good advice from a driller. He said specifically..........."hang on to those minerals." I am doing just that. Oklahoma is hot. Those minerals are my legacy from my late daddy and momma. I have noticed a trend, of late, that LANDMEN are actively BUYING.......not paying out bonus lease monies. I received recently a nice fat 'bonus lease check' for my minerals in Hughes. There are folks......a Landman by the name of Chris Willis (conchojobs) who offers help via the forum for novices such as myself.. He will willingly answer your questions. There are a couple of other LANDMEN......very knowledgeable postings by a LANDMAN on my HUGHES COUNTY GROUP who have helped me immensely by just reading their postings. I agree with Pat Malone, above i,e., ........Educate yourself!
I have rights in Washita. There are several deep formations that produce nicely. Not sure about 29 20N 13 though, but I'd suggest you give yourself a few weeks of dedicated online education. There is a ton of information out there and you can get up to speed pretty quickly.
I've never heard of rights not passing to heirs but I'm sure there is a legal way of doing this. But who do they go to ? Revert back to someone in chain of title ?
My thoughts on selling: Never sell. Others won't agree with this. But once they are gone, they are gone.
When you rec'd the check there should have been a well name(s) identified. You could start learning by researching that well on the OCCWEB
Learn, learn, and then learn some more and be aware that there are a lot of great folks that will help you and a few that will fleece you while looking you in the eye smiling.
The letters are NRA(National Rifle Association) and the semi-automatic is a Stoeger 8000 9MM. Beretta were making semi-automatics in Italy and the cost of them was so high that Beretta moved all the tooling, etc. to Turkey and now they are called Stoeger. The magazines in the Stoeger are Beretta magazines. 15 rounds in the mag. and 1 in the barrel. A very dependable firearm. I never leave home without it.
Now about my picture.................If I put my picture out there for you to see that pretty dog would have ahold of it like he/she does that bone. OK, soon as I can get someone with enough courage to face me I will have them take my picture and put it out there for the world to see. hahahahaha
Clint, I am just very curious.......please tell me what those letters stand for on your cap, and that firearm....what make? Am I looking at a glock? And why 'not' just post your face so we forum folks can get to know you a tad better. :-)
Clint Liles said:
Connie,
Welcome to Mineral Rights Forum and the Washita County Group
You did good. I love details. NRA......me too. Good looking Stoeger. Didn't know about Beretta's move to Turkey. In case there are any bad bubbas out where I roam and hike in Montana, I pack a Glock 17. Very dependable piece. Ok, that being said I do appreciate this forum. There are knowledgeable folks on the forum that are willing to share their expertise with novices like I Leta. I have been helped greatly by couple of Landman by there willingness to share their knowledge. I hope to protect my mineral interest by being as informed as possible via forums. Oh..... I shall await that picture of you to be taken by some fearless person who will face you. :-)
I sent you a "friend" request. I would like to ask you some questions about BRG, as I have been negotiating a lease, for Robertson and Limestone counties, Texas, with them since September, 2014. One of the things I want to ask is ... was your experience in dealing with them favorable or not favorable. Thank you, Pat Leta said:
Connie,
Hello. I don't own minerals in Washita County, but do own minerals in Garvin and Hughes Counties. In 2010, I signed a lease, drilling done by BRG, Ok. City. Dry hole.....then plugged. I had some good advice from a driller. He said specifically..........."hang on to those minerals." I am doing just that. Oklahoma is hot. Those minerals are my legacy from my late daddy and momma. I have noticed a trend, of late, that LANDMEN are actively BUYING.......not paying out bonus lease monies. I received recently a nice fat 'bonus lease check' for my minerals in Hughes. There are folks......a Landman by the name of Chris Willis (conchojobs) who offers help via the forum for novices such as myself.. He will willingly answer your questions. There are a couple of other LANDMEN......very knowledgeable postings by a LANDMAN on my HUGHES COUNTY GROUP who have helped me immensely by just reading their postings. I agree with Pat Malone, above i,e., ........Educate yourself!
