Hello,
My wife’s side of the family has an ORRI in a handful of wells in Eddy County, NM. We have never received royalties because we think that it was never probated from her grandfather and we don’t know percentages. We recently have received a few letters with increasing offers that say this in part:
"Apollo Energy is currently acquiring oil and gas royalty rights in select portions of Eddy County, New Mexico, and we have determined that you may own an overriding royalty interest (“ORRI”) in the captioned property. Our offer to purchase all, or a portion, of your ORRI in the captioned property is as follows: Lands: Sec. 6-18S-27E, Sec. 29,30,31 & 33-17S-27E
Offer: $65,000"
I dug around as much as I could to actually find their well information and I have a list now if needed, but this letter makes it seem like it is more about the land. I was wondering if anyone could help me out to know what this company seems to know about the activity in the area? I’ve looked at some maps, but I’m not totally sure what I am looking at. The 2nd part of my question is about probating. One of her uncles sold his part when the offer was at $40k. The company said they would get the probating done as part of the agreement, but I haven’t heard anything. If these offers are like this, I really feel like we should be making sure to get the current royalties. How would I go about getting that done myself and making sure that it is set up?
Thank you!