My wells in section 32 have been paying $2.00 a year and all of a sudden I have gotten 20+ new division orders. The wells in section 32 I got division orders last year that they wouldnt accept because I have to do probate in Colorado and I live in Texas. Now I had a land man calling offering me $6,500 per acre in section 5 and 32 and I said no. Nobel energy who is drilling in section 32 said it would be worth my while to do my probate. What does anybody know about township 10? I am planning a trip next month to try and figure this out, being new to the oil stuff I inherited?
I have received 40+ new division orders in the past few weeks
Sign them all and send them back, you're bout to get PAID.
We need the Township and Range, along with the section to give you any advisement on an area.
gave you that. t10n, r58w, s33 s32 & 28, t9n, r58w, s3, s4, s9, s10, & s16 and I dont know what I have in 5 hang on a minute
elizabeth stuart purcell said:
t10n, r58w, s33 s32 & 28, t9n, r58w, s3, s4, s9, s10, & s16 and I dont know what I have in 5 hang on a minute
I am working on an appraisal of that same property (another fraction therein and another Effective Date). My client is also a member of this blog site, namely Jenna Keller, attorney in Steamboat Springs. You might contact her. John Gustavson, Certified Minerals Appraiser
Don't sell right now. Wait and see what monthly payments are going to be. Sign the DO's, do any probate required, then get paid.
elizabeth stuart purcell said:
I have received 40+ new division orders in the past few weeks
I have to go to Colorado and do my own deed research and file probates on my great grandparents and don't have a clue what I am doing. All I know is I have gotten over 50 new division orders in the past month from weld county
I will never sell. I promised my mother. I have over 80 wells in Texas right now and am generated only about $11,000 a year... now I have over 100 producing wells and something is really wrong with this picture. I need HELP!
Get an Oil and Gas Attorney to help you. You are about to get royalty payments from 50 wells.
Will be very worthwhile to get title cleaned up….probate done.
elizabeth stuart purcell said:
I have to go to Colorado and do my own deed research and file probates on my great grandparents and don't have a clue what I am doing. All I know is I have gotten over 50 new division orders in the past month from weld county
I have even been studying an online mineral rights 101
I have contacted a friend who is helping me find an attorney. We are from Texas and Whiting Oil who is producing on section 32 doesn't need the probate but Nobel Oil on section 33 does. Whiting has been sending a $2.00 a year check since my mother passed in 2011 and all of a sudden sent 15 new division orders. When I spoke with them they said "dont worry we still are not really producing its all cross drilling"
Steve said:
Get an Oil and Gas Attorney to help you. You are about to get royalty payments from 50 wells.
Will be very worthwhile to get title cleaned up….probate done.
elizabeth stuart purcell said:I have to go to Colorado and do my own deed research and file probates on my great grandparents and don't have a clue what I am doing. All I know is I have gotten over 50 new division orders in the past month from weld county
I think I may have that backwards. Whiting is on 33 and 32 and Noble is t9n r58w sec 3.4.9.10 and 16 that one is 3,193.72 acres I own the mineral rights on
elizabeth stuart purcell said:
I have contacted a friend who is helping me find an attorney. We are from Texas and Whiting Oil who is producing on section 32 doesn't need the probate but Nobel Oil on section 33 does. Whiting has been sending a $2.00 a year check since my mother passed in 2011 and all of a sudden sent 15 new division orders. When I spoke with them they said "dont worry we still are not really producing its all cross drilling"
Steve said:Get an Oil and Gas Attorney to help you. You are about to get royalty payments from 50 wells.
Will be very worthwhile to get title cleaned up….probate done.
elizabeth stuart purcell said:I have to go to Colorado and do my own deed research and file probates on my great grandparents and don't have a clue what I am doing. All I know is I have gotten over 50 new division orders in the past month from weld county
Were you gonna get back to me on 5? Also, is that gross or net acres, the 3,193.72 mineral acres you quoted? And where did that number come from, exactly? Are you able to look at maps, as in Colorado Oil and Gas Commission? Are all of your minerals under lease and held by production? Who managed these before?
So you're getting an attorney for the probate. The areas you own in are all showing lots of horizontal permits and producing wells. Cross drilling? Never heard the term. You'll want to hire a bookkeeper, accountant and investment manager after the probate. To help you invest the cash. What questions specifically do you have?
I am not sure about 5 thats what the man offered me on the other day and someone at some time sent me paperwork on it. The Rohn Unit state 3,193.72 acres more or less which are t9n r58w sec, 3,4,9,10 &16
LD09-01 80 acres
Fiscus Mesa 09-10H 640 acres more or less
then the other 25 say on the other document say 3,193.72 more or less. That is why I have to come to Colorado and do my own deed search.
I already have 70 producing wells here in Texas. I need an accountant already before I probate in Colorado. The 100+ wells don't pay enough for an accountant yet. And my well I have had in Colorado so far.. The Johnson well being produced by Whiting has paid $2.00 a year if I am lucky
Still a bit unclear, but you have a certified minerals appraiser answering above, that's where you should start. Find out what you own. I wouldn't have the time to review 50 Division Orders and frankly, nobody will do it here for free. This is just for direction or advice. Get your minerals and ownership appraised and find out what you own, do your probate...then come back here. Your next two problems will then be bookkeeping/taxes and then investing if it is a large monthly sum.
Well I didn't expect anyone to do anything for free. I just thought this was a forum to gather information and maybe find out if anybody knew if any of my areas are worth me hiring someone. I didn't realize the forum was just to try and hire people. First I have to find out what I own and file my probate, which I need a lawyer. We don't have to do this in Texas. I need a lawyer that will let me do the leg work and file the paperwork while I am there because right now my wells don't pay enough for me to go out of pocket for very much up front and I am supporting my disabled vet son who did 5 tours of duty, his wife and son. So I am trying to get help so I can fly to Colorado, rent a car, go to weld county and do a deed search and pay an attorney while I am there to sign my documents (but work with me so I can have them all ready to go) and then file them while I am at the courthouse doing the deed search. I don't even know how to get my minerals appraised. I did not even know I needed to. I just wondered if anyone knew if my property was going to worth me paying all the money to do what I mentioned above.
And I am already aware of my taxes, I already receive approximately 26 1099's a year and own property in 18 diff. counties in Texas alone.
If I can figure out how much you own, we will know what it’s worth. If you want to fax me anything I can take a look and try to help you understand what to expect… anything for a disabled veteran. Fax is 424.252.9076
Thank you