My grandfather owned 1% mineral rights in 4 different wells. Now I am completely green to this area so if I say something that doesnt make sense, please forgive me. I have all the paperwork including the api numbers and other information on the wells. I have never received any type of royalty and my grandfather has been dead for over 27 years. I have called several different companies that are involved with these wells and they arent very helpful. My question is, are royalties paid regardless to a fund and if never collected, go to lost property of the state? I have information which shows money was paid to certain bank accounts and I am assuming that was initially where the money was stored. From there it should have been turned in to the lost property am I correct? When we contacted lost property, they were completely unwilling to help us. Is hiring an attorney the only solution? We own only 1 percent of the mineral rights but from what I’ve gathered, these wells did very well in both oil, gas and water. Any suggestions would be great.
You would need to contact the operator of the wells and ask them if they are holding money in suspense under your grandfather’s name (or who they did send them to). Also ask if they have escheated money to the state. Ask what title documents they would require in order to get into pay status. You have to prove that you (and any others) are the proper heirs. The current operator may not be the same as many years ago, so that could complicate things. Check the state Treasurer’s office in the state where the minerals are, the state where your grandfather lived (if different) and also Delaware. 1% can be significant depending upon the production of the wells. You can go on the Texas Railroad commission site to find out how long the wells produced.
We’ve determined the money has been forwarded to the State and as you said, have been different operators on the property throughout the 81 years. I am the only heir in the family and this was in trust for me. The state has all of the names/operators that put this money in accounts and ultimately was forwarded to them but they will not release the money even though i can prove everything. I guess an attorney is the only way.
There are several attorneys listed in the Directories tab above.
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