Leasing, selling mineral rights

Hello i leased my mineral rights along with 2 other family members to Silver Creek back in July of 2014 for 250.00 a acre, my third was about 26.67 acres. I just received a letter from Rojo Energy Holdings. llC from Dallas Texas. They are offering to buy all or a portion of my minerals and royalties. I'm new to all of this so was surprised to get this letter. We have a 2 year contract with Silver Creek. Any info or suggestions would be appreciated. I'm not really interested in selling but another 1/3 owner might be. I figure wait and see if they start drilling and find anything. Does anyone know if they are drilling close to section 23 Township 7N Range 8E?

These horizontal oil wells, recently drilled by Silver Creek, are producing in your township. The Completion Reports show initial test results and the OK Tax Commission link show volumes reported for tax. Only gas volumes have been reported to OTC to date.

http://imaging.occeweb.com/OG/Well%20Records/1DD2766F.pdf Sec. 20-7N-8E


http://imaging.occeweb.com/OG/Well%20Records/1DD29C18.pdf Sec. 17-7N-8E


Silver Creek has also been permitted for a well in Sec. 15 with the surface location in Sec. 10. Drilling began Dec. 20, 2014. This link is to the Permit to Drill http://imaging.occeweb.com/OG/Well%20Records/1DD2B0B0.pdf and this is the Spud Notice http://imaging.occeweb.com/OG/Well%20Records/1DD2B287.pdf

Purchase offers come out of the woodwork typically when a property is hot. I love to receive them because it means someone sees value there.

My father & uncle have mineral rights in sections 1, 3, and 12 of township 7N, range 10E. Last year we leased for $500 per acre royalty with 3/16th on a 3-year lease. My uncle is widowed and had no children. My question is: Does his death END those leases of his? And would the rights immediately pass to his siblings and their children by intestate succession? His real estate is not in Oklahoma and there will be no probate as rest of his estate is in a family trust.

Karla, I am not an attorney, so will stand corrected by other more knowledgable forum members.

That said, the lease does not end with his death. You can check for youself for language in the lease providing for "...the covenants hereof shall extend to heirs, executors, administrators, successors or assigns...", or something similar. Also, there will be a provision that "No change in the ownership of the land or royalties shall be binding on the Lessee until after the Lessee has been furnished with a written transfer or assignment or a true copy thereof."

From your last sentence, do you mean his mineral interests were not included in the family trust? There will need to be legally recognized document(s) filed in County Clerk's office in Hughes Co. You (meaning the executor/administrator) will need the services of an attorney, in my opinion.

It was the intention of my father that probate be avoided by use of a trust, however, a couple of tracts of minerals, instate and in Kansas, were not included. After probate was completed, we were able to file an ancillary probate in Kansas to achieve the transfer.

The sooner inheritances are correctly dealt with, the better, as we never know when someone else in the line of succession may die! Many people on the forums wish they or their parents/grandparents had taken prompt action.