thanks Tim I start doing that this week
bill
Tim Metz said:
billie,
look for pooling orders with your name, your mothers name and your grandparents name to find the legal, it might be you own in both sections. An order like pooling is where they are getting your name. In Logan county they are drilling Mississippian, Woodford, Hunton and Cleveland wells mostly in the Northern portion.
I believe that this forum is to answer the creator's question to the best of one's knowledge and in a good sportsmanship manner. And, that means playing by the rules ... by exhibiting discipline, respect, and self control in areas of disagreement ... "like a good sport."
But, I will restate MY original opinion to the creator of this thread ... never sell your mineral rights. If someone wants to buy them, there's a reason.
That's my opinion, and the creator of this thread can do with it as they wish.
Thank you,
Pat
Billie,
I'd go to the OCC web site (link below) and look for pooling, location exception and spacing orders. At the bottom of the page click on "case processing web application", you'll need Oracle JInitiator installed. Input in the legal, you'll need double digit numbers so 1 has to be inputted as 01, when it pulls up the cases click on one at a time and then click on the order, at the bottom of the order document look for your name and relatives names. OCC at 405-521-2211 might look then up for you but I wouldn't count on it.
Pat, I think calling all those sellers suckers was far from the truth and uncalled for. You have investors in every aspect of life, that doesn't make all investors vultures and all sellers suckers, that is just plain nonsense. Not all sellers lost more than they would have gained and not all investors received more than they paid. The creator never asked if they should sell but you and others jumped in telling them never sell, even going as far as to say if you do you are a sucker. If someone gives advice or opinion to someone without even knowing any details, without having any in depth knowledge and experience I find it hard to believe that their opinion or advice could have much merit and one should be warned of it. I imagine none that said never sell even looked into or had knowledge of what was happening in their county, past, present or future as a basis for your comment, probably didn't even know what county or state they were in.
Certainly people should have never sold certain old toys now worth $1000's, never sold their 1970 Plymouth Superbird that are now bringing over $100,000, or sold the mineral rights to where is now the Eagleford but should one give the advice never selling anything as someday it might have a greater value. I know people who had paid taxes for probably 100 years (as far back as taxes began) on the mineral rights they owned in Colorado and never made any money off them, they only paid taxes, the advice to never sell cost that family a lot of money and in the end a couple years ago the heir forgot to pay the taxes and record a change of address and it sold at a tax sale. Each case is different and the long term outcome is not the same for all, not everyone who buys or holds a lottery ticket will win big and some will not win at all. It is not being realistic, wise, or financially responsible to never sell or tell others to never sell and that is a fact not my opinion. In Billie's case they need to learn what they own and the circumstances involving it, they could have an 800 bopd well that they need to get in pay on. Selling or talk of it should not even be considered.
Norma,
If it scares you to sell then by all means don't. One heir or beneficiary is all you need, more is actually not good as with time it can get split up too much, even into fractions having little value.
While not wanting to enter whole heartedly in this little exchange, I will point out that those without knowledge of Norma's situation [but who may have extensive knowledge of the industry] are, giving the exact advice they would give if they were in Norma's place, because Norma does not know either. A buyer and seller of mineral rights usually does his homework and knows at least a little about how to find out. Also for a buyer and seller of mineral rights, there is always next time, there is a chance they could make back any losses in the next deal with an uninformed mineral owner. Mineral owners may only have minerals one time in their lives, will not buy and sell at least a couple times a year. Since the average mineral owner knows absolutely nothing about the value of their mineral rights, they "probably are" going to get took in the sale. If the buyer loses money, he did it to himself, he didn't get taken in by that savvy mineral owner, the mineral owner is going to be selling for less than the professional thinks the minerals are worth, or the professional would not buy them at that price. Only if the professional makes a mistake, does the mineral owner come out ahead. At anything I do professionally, you would not be well served to place your hopes that I will make a mistake, whether I am installing all the piping in a huge building or delivering your pizza in 30 minutes or less, do not count on a professional to make a mistake, it's a losing proposition in most cases.
Thanks, Tim... I appreciate your input...
Thanks, guys, for your help... How can I find out if there is any leasing or activity going on in that area. I've tried to google different things and seems like a lot of land was leased in 2011, but all south of me...