We are small interest owners in Panola County. While reviewing my 34-page Panola County 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 website and was able to speak with a person regarding royalty interests. Good news is that I discovered there 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 County, and it is a mystery to me how they didn’t know our contact information. We have heirship documents filed in Panola County, 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.