My grandmother deeded her mineral rights over to me (and herself, with full survivorship rights) prior to her death in 2004. She and my grandfather (deceased in 1992) owned 12 acres, surface and mineral, that they sold back in the early '60's. At the time of the sale, they retained 1/2 mineral rights interest in all 12 acres, therefore, that is the portion that I now own: Dewey County, OK S31/T19N/R15.
On the deed, the address listed was my grandmother's and my name is listed under my previous married name, therefore, I've been unreachable since her death. I was told that if a company was unable to reach me to negotiate a lease, that they would still be able to do so and/or drill if at least 80% of the owners within the section agreed to lease and I would not be due any monies for lease and/or royalties. Does anyone know if this is true and how to determine if there has been any activity on or around my minerals in the past 12 years?
I live almost 3 hours away but plan on making a trip to the Dewey County Courthouse to update my information in the near future. I'm assuming that I would need to provide them with a copy of my marriage license (for name change) but does anyone know if I need to provide a copy of my grandmother's death certificate (to prove sole ownership)?
Also, I am considering selling as I realize that 1/2 interest in 12 acres is probably considered to be quite small and possibly not worth trying to market as a lease. Does anyone know what a fair price would be or how to determine the value?
Thank you for any and all advice/recommendations you may have as I am completely ignorant when it comes to mineral rights and how they work.