We are small interest owners in Panola Co. While reviewing my 34 page Panola Co. property tax notice, I noticed a significant tax for a property that was being produced by INDIGO. Never having heard of INDIGO, I located their web site, and was able to speak with a person regarding Royalty interests. Good news is that I discovered their was about $100k of reserves for me and my siblings. They date back to 2009, and we will hopefully be getting our royalties this year. We have multiple producing interests in Panola Co., and it is a mystery to me how they didn't know our contact information. We have heirship docs filed in Panola Co., ETC.
Is there any obligation in Texas for a producer to engage in a good faith (or in our case minimal) effort to locate owners? Assuming they didn't, as in our case, is there any obligation to pay any interest on the royalties that were not paid over a period exceeding 8 years?? Thanks in advance for any input. WSD