Our family is currently filing a couple of Oklahoma probates to ensure marketable title on mineral acres and have been told this will take about 90 days. If our mineral leasing goes to force pooling before the probates are final, how would the yet unmarketable fractional shares be handled in the force pooling process? Would they distribute to family members indicated in Affidavits of Death, Heirship, Etc., which have not yet been on file for 10 years? Or would they automatically be assigned the lowest bonus/royalty offering by the judge? We believe the probates will be finalized prior to drilling and paying royalties.
We were very close to having agreed upon lease terms, but have just now received certified letters asking us to select from 6 different options regarding participation or lease/assign options. We are hesitant to do this without seeing a lease and presume it will go to force pooling. Are there steps that we should take to protect our interests and prove that there are not “unknown” heirs but rather an active estate?
Thank you.