Inflation Information

Sorry if this isn’t correct I’m’ new at this. Sections S7, T3 N,5W any information on what’s going on with possible buyers of mineral interest and how many acres are in this area. Thanks

Welcome to the forum!

If you recently inherited, then there are some important steps to do before thinking about selling.

-Each section has roughly 640 acres. You will not own all of 7. There are hundreds of mineral owners in that section. Sec 7 is not exactly 640 acres due to the curvature of the earth. If you need the exact amount, I can tell you where to find it.

-You need to understand what you inherited and how many net acres you have. You should have gotten a description of your acreage. It might look like 1/4th undivided interest in the NW4 NE4 7-3N-5W. From the description, one can figure out your net acres.

-There is current production in section 7 from an old field and there is about to be new production from deeper in the field. You need to contact the current operators and notify them if you are a new heir and to transfer royalties to you. You also need to notify the new deep well operators that you recently inherited, so they can add you to their mailing list. At least two new wells are just online and will have payments in about six months.

-You need to file your name and address and any title or probate documents with the county clerk in Grady County. That is the official legal repository.

-Any offers to buy are generally lower than the future royalties might be. Most buyers make offers on current production. They intend to make a profit off of you.

-Wise to find out what royalties you currently have and then find out the potential of these brand new wells (much higher than the old wells) before considering selling

Do you have specific questions?