I have a NPRI interest in an 80 acre tract in West Texas that I just found out was being drilled on. It was inherited and was conveyed in a Partition Deed to my grandfather in the 50's. It states "an undivided one-half interest in and to all oil royalty, gas royalty, and royalties on (sp) other minerals produced, saved and sold from (legal description inserted)...such being a NPRI ... only out of production...leases executed shall provide for a free royalty of not less than 1/8th ....
Therefore, my question is would I be entitled to 1/2 of all production from that well if I do not ratify the lease and if I do ratify the lease would my interest then be reduced down to 1/2 of whatever the mineral owner signed a leases for?
Thanks Pete. I do not have it to send at the moment but I put the language in my question directly from the Partition Deed. Also, yes, the drillsite is on the 80 acres which the deed covers and conveyed to my grandfather. So I guess I would be entitled to 1/2 of all royalties paid, so that would mean if the lease(s) was for a 3/16th say, I would be entitled to 1/2 of 3/16ths of the royalty correct?
I think you are right also Pete. So if I upload can everyone see/read it? I can tell you that that it does not say 1/2 of usual 1/8 royalty...I think it is uncommon also and the only mention of a lease royalty term is that it can be no less than 1/8th and that was in like 1958 or 1959 so either the attorney knew what they were doing or someone involved did. I think it is 1/2 of the royalties that the other heirs own. That was the deal. He didn't get any surface, just the NPRI. Might be pretty good deal for us! No ratification is necessary or should be required, we are under the drillsite! Why would we have to sign a ratification right? I will keep you posted as I figure we will here from them if production is reached, and probably should have before drilling but didn't!