I was recently contacted regarding potential mineral interests that may have passed through my family as part of an inheritance. While researching the matter, I located this 1970 Assignment of Royalties from the Permian Basin (identifying information removed), but I don’t fully understand what it represents.
I am currently working with someone on this, but I would appreciate any insight from experienced landmen, title examiners, or oil and gas professionals.
Are any of these listed tracts or units still producing/active today? Does anything in this document stand out as something that would require additional title research?
TIA
I have no idea what this Exhibit transfers without looking at the entire instrument.
These tracts look like various legal descriptions, including Tracts of unitized acreage in various units. One includes the Pembrook Unit. I am familiar with this unit. It is still producing and may have active drilling on it. Since it unitized the proceeds from oil produced on any part of the unit, the proceeds are split based on pro rata shares of ownership among all owners in the unit, regardless of where the well is drilled within the unitized area.
As far as further title research, I would look up the Declaration of Pooled Units for all of the units listed in the Exhibit. You will be able to get the tract participation ratios from that and determine how much of each unit’s oil you would be entitled to.
