Minerals in NM & OK

[mark_schaefer]

Hi,

I own minerals in Rio Arriba, NM. Atika, OK., Creek, OK. McClain, OK. Okfuskee, OK. Seminole, OK. Noble, OK. Around 7,000 acres. I need help managing them and utilizing them to theire fullest potential. Where should I start?

[Kenny_DuBose]

@mark_schaefer allow me to make a few comments here - not so much answers, but as important, questions/comments that matter.

• it’s important that you figure out exactly what you own, the net amount of mineral acreage, and whether some/all of it is in productive areas
• if you discover that you own minerals (and in significant quantity) in quality areas, you’ll want to get comfortable with spending some $ for professional help
• consider joining an organization known as NARO, National Assn. of Royalty Owners
• be very deliberate and informed prior to making significant decisions - if you own oil/gas in the ground, it’s not going anywhere
• taking time to read and learn your way around this site can be extremely helpful. Remember, this is a public forum… there is high quality information here, along with the opposite. Be careful of being approached with “free” help.
• see our Directory page for service providers

[M_Barnes]

NARO has a nice template for getting your minerals in order and starting to get organized. I use something in a similar style except in Excel.

You can find the template at

Copy%20of%20Sample%20Mineral%20Inventory%20Wade%20Caldwell%20WITH%20WATERMARK.pdf

[M_Barnes]

Oops, it got away from me before I finished. NARO has a YouTube channel with a series of Mineral Management 101 videos.

The forum also has a nice writeup called Information-for-inexperienced-royalty-owners. Put that in the search above.

Read the Mineral Help Tab above.

You really can do this yourself by getting educated using as many resources as you can. Wade Caldwell has a nice set of online links.

[mark_schaefer]

Thanks for the response, I have around 5,000 gross acres mostly in Rio Arriba NM. Is that enough to obtain professional help, and in what form would that be, a landman?

[mark_schaefer]

Thanks for the response, this has been helpful

[mark_schaefer]

I’m having trouble finding the Information-for-inexperienced-royalty-owners, can you post a link?

[M_Barnes]

Information for Inexperienced Royalty Owners

For those with limited experience in owning royalties, I would like to recommend first viewing the videos on Mineral Management 101 on the National Association of Royalty Owners website. Those can be found at http://www.naro-us.org/Mineral-Management-101. Then for Oklahoma specific information go to the Oklahoma Corporation Commission (OCC) website at http://www.occeweb.com/og/publications.htm. Download their Basic Information for the Oklahoma Royalty Owner. It contains a wealth of helpful info…

Use the magnifying glass at the top and type in the words in the box. (I attached it for you to save time).

[mark_schaefer]

Thank you, this is useful information

[Richard_Winblad]

@mark_schaefer

I have around 5,000 gross acres mostly in Rio Arriba NM. Is that enough to obtain professional help, and in what form would that be, a landman?

You should determine what your team should include. A landman can be a good resource as to mineral lease bonus valuations (i have a referral if you are interested), a CPA to keep your taxes straight, and attorney for lease review, estate planning, etc. There are professional mineral managers if keeping the minerals straight is overwhelming.
You should explore the use of a Trust or Trust LLC combination. A California attorney can help you with the planning, NM and OK attorneys can assist with re-titling the minerals if you go that route.