When I was initially contacted by someone doing title research for Conoco Phillips, I was advised I’d be sharing the minerals with 9 other family members on 147.5 acres of property. After contacting an attorney which was great advice obtained from this forum, he did one day of research and advised 100 heirs have now been found and my share went from half to .001. I was advised to contact the landman working directly for Conoco Phillips which I’ve done however I have yet to receive a response. Has anyone else experienced something like this? It appears now no one will get back to me. I understand it’s a small amount of minerals but I’m not 100% sure this is actually factual. I did finally get a response for the person who initially contacted me and was advised she didn’t know where Conoco now stood in regard to sending me an oil and gas lease as she first advised would occur. I’ve confirmed the property is in what everyone is calling the hot spot so it’s hard to believe they aren’t interested. Is there anything I can do to obtain more information or am I now at a loss?
Someone will still want to lease it, Natasha. They lease in housing subdivisions where 1/3 of an acre or smaller lots are common. You may also still have a greater percentage of ownership than some other distant family member. They will come back to you in time with an offer.
Thanks R W Kennedy. Your response is greatly appreciated. I just can’t see them not approaching seeing as they already have 3 approved permits for 3 wells already on the property. One is a gas well, another is an oil well and the third is labeled as possible oil or gas. I just looked on the TRRC website and it stated both gas wells are producing. I would assume the lawyer would’ve been able to tell me how many of the minerals I actually own out of the 147.5 but he didn’t have that information. I guess I’ll keep trying the landman he referred me too. Thanks again. Wish me luck!
Natasha,
Perhaps this will be of interest. My mother, age 83, is the only living child of her father and mother. There are several nieces and nephews descending from her deceased brothers and sisters. My Mom had five siblings. The way the mineral rights work for this tract is six children divides minerals into sixths. Mother has 1/6th interest.
The other 5/6ths interest is divided between the heirs of her deceased brothers and sisters. So, one sister had one child only so he will get his father's full 1/6th. A brother had four daughters and they will receive the 1/6th to divide between the four of them. Perhaps you have just a few heirs to deal with on the initial work. If the original owners had known what the future held it would have been better to put the entire acreage in a trust or LLC for the family and income could go into a family trust and maybe once a year distribute earnings.
Hello Natasha,
I am an oil and gas landman and would like to know more about your mineral interest.
Thanks - Jerry
Hello Jerry. I sent you an email which should come from my hotmail address. Read it and get back to me when you can.
Natasha