Hi there, I have mineral rights in Coal County, OK. Looking for a Lawyer to talk to about possible sale. Thank you
I’d be happy to suggest some depending on what you need. What is the reason for needing an attorney to sell?
Hi there,
I have a company interested in buying and want to make sure I am making the right move in doing this.
You probably do not need an attorney for that. If you are looking for going rates, a landman might be more knowledgeable. Landmen can also verify title cheaper than an attorney, but you could just do a special warranty and limit your exposure that way. Know that selling is almost always ‘leaving money on the table’, but could be the right move for you if you have immediate need for cash. That being said, Kim Wurtz is a great o&g attorney that could probably help. Let me know if you are looking for something else - I’m happy to help.
Do your research prior to a decision. Review mineral sales in and around your tract that have been filed of record.This will help you develop other potential buyers. Contact the Sellers and ask if they will share the terms of the sale and their experience with the company. Do an internet search for mineral/royalty companies with an area of interest either in the Arkoma Basin or OK. Once you do this work, then you have a solid basis to consider whether a landman or lawyer can provide valuable assistance in a sale.
I second the suggestion for Kimberly Wurtz. She sits on the Oklahoma Corporation Commission and is very knowledgeable in both Oklahoma and Texas - she was a landman before becoming an oil and gas attorney.
Contact Robert Stell at Bass Law in OKC and Tim Dowd at Elias, Books, Brown, & Nelson, P.C. in OKC. They both have years of experience and can do this in their sleep.
Tim Dowd is also a former OK NARO director.
Also, be sure to understand that this sale has capital gains tax implications. Visit with a CPA
This post is not legal, tax or investment advice. Reading or responding to this post does not create an attorney/client relationship.
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