As many posts I see, this is new to us.
If I am looking at Section 31 Township 8N Range 4W and the deed says “an undivided 1/16th interest in and to all of the oil, gas and other minerals in ALL of the North 1/2 of the Southwest quarter of the area I listed above…
What does this mean as for actual acreage?
Thank you in advance!
The SW4 has 160 acres, so the N2 has 80 acres. 1/16th of 80 acres is 5 acres.
But, if the grantor did not own an undivided 1/16, the deed may not actually convey 5 net mineral ares. That’s why we never warrant title.
Thank you so much for the explanation. That is what I was gathering.
On another note, EOG has been contacting my mom to lease the rights from her. She contacted an attorney but in reading this forum, I see there is more to this that she didn’t know about. What is a fair lease offer for this piece of land? And in this section, is this the company best to lease to?
And…one more question. My mom has all of the original deeds dating back to my great grandfather. When my grandmother filed the deed in her new name in 1995, the attorney misprinted the section number as 13, not 31. We are trying to get that corrected. My mother has all of the original deeds and a COPY of my grandmother’s will, willing it to her (my mother.) Would these be sufficient to have that changed with the recorders office? She does not have the original copy of the will.
Thank you so much for your help and information!
Might be wise to contact an OK attorney to make sure that the deed is corrected properly and quickly. It may just need a quitclaim deed to correct it, but that is not my area of expertise.
You can and should lease to whomever gives you the best lease in terms of the clauses. First, fix the deed. Then work on the leasing. The first draft of a lease you receive will most likely need some negotiation to be more in her favor.