Most of our property in Burke County is handled through Oasis Petroleum. I recently was contacted by AQYRE LLC with a mineral rights offer for the following;
Township 161 North, Range 91 West 5th P.M.
Sec. 30: NE
160.00 Acres m/l, Burke County, North Dakota
We never went through probate and we dont want to. The offer is for 5 years and is stating if we dont go through probate we will only be paid the bonus. If production is achieved, which is the goal, the royalty money will be held in escrow by Liberty Resources until this property is probated and documentation can be provided.
Is this a normal procedure?
I do not know if the offer I have been presented with is fair or not. Any landmans or anyone that could help me out would be awesome!