We were Deeded 4 mineral properties back in 94. We now have 2 leased out. The third one in Weld County section 28 was lost in transition. Attorneys in the late 80's and in the early 90's both did not find our records so their OPINION Statement cleared the property and we have not received any royalties even tho that land has been producing on and off and has changed drillers hands several times. Bonanza Creek has already applied for a spacing permit in May of 2011. The permit application states ALL of section 28.
The question is if we really do own the rights and they cannot find the original documents or lease agreement from our heirs, will this become a problem for them. Or is is it more likely they will find our records if they dig deep enough. A landman found us so I know there is a paper trail somewhere. Another question is who would be holding the original lease in our names.
Thanks for any input
Also for anyone interested we just got last month $1500x160 acres in Morgan County.