The folks who live in my deceased mother’s home sent me some mail which arrived recently. Quite a surprise as my mom has been gone for over 20 years. It was joint interest summary invoices for the past two months from OXY USA referencing Venture;108609 13 Young 270-271 WU 11H APO. The invoice refers to an equity share of 0.022651. I am a retired school teacher and I always told my students there were a couple of ways they could develop their knowledge. ‘An inch wide and a mile deep or a mile wide and an inch deep.’ Seems fitting. Mineral rights are a total unknown for me and either way I am just beginning to scratch the surface.
From another topic I believe this refers to an area in Reeves County Texas. My mom was from Colorado. Her actual name was Constance and the invoice uses Connie along with her maiden name so I suspect this is something she inherited along the way. My dad is also deceased. They were both pretty informed investors and I know from being the executor of his estate they were both unaware of this interest.
Looking to be educated.
Oxy completed Young 13-0-270-271 11H well in June 2021. The APO in Oxy reference means after-payout. Most likely this is a mineral interest which was not leased. Once Oxy recovered the drilling costs and related expenses from the well, you are treated as a working interest, to receive 100% of revenue attributable to your minerals less your share of operating costs. As the notice is in your mother’s name, the title may have been transferred to her by her father through his estate or deed from him. You will need to establish title into yourself. If your mother had probate filed in any state, then you can file certified copy in Reeves County. Start by searching your grandfather and mother names in Reeves County deed records online. Link can be found on website for Reeves County clerk and search is free and then $1 per page to purchase the deeds. Maybe there are other minerals in their names. Ask Oxy what is needed too. Great time to learn:
Thanks Tennis Daze. FYI I loved this line you used in another post. “As you can see it takes a long time and a lot of study to absorb everything.” Sounds like a line I used with my 5th grade class quite often. This whole adventure is one part geology, one part geneology, and layer upon layer of legalese.
Followed your lead and learned my mom owns 1/69th of “lot no. 3 block 6 section 271.” Came to her through an aunt of her mother. Deed refers to land and all rights and interests. Unclear if owning the land has any bearing on mineral rights. No mention of these in deed.
In my research I came across this line by an Ed Brawer. “There are protections in place for the accounting of royalties from production and an option to participate in your share of drilling expenses for those who have an unleased interest in a tract of land.”
What I THINK I know so far is my deceased mom owns a tiny piece of land with no lease. There is some activity on it, under it or through it and my mom as owner is being informed by OXY that production is taking place. They are billing her her miniscule portion of expenses. I THINK I can ignore these bills and if production exceeds expenses my mom would receive a proportionate share ( 0.022651) of any profit the well generates. I would then have to get OXY to see that royalty should come to me her sole surviving heir. Am I close?
I do not believe her estate was ever probated as it was all left in a trust with my dad, now deceased as well.
She also owns a 1/69 of 'Lot 10 Block 3 in town of Lake Toyah" I have to wonder why whe never received a tax bill for either of these properties?
Another fellow in my position used the term “Byzantine” to describe this all. That feels about right so far. I really have no idea what financially this may all mean and how much time and effort to devote to it. I am a retired guy who is putting his house back together after hurricane Ian in Florida. I have a lot to do. My grandson is going to college in the fall. I THINK my 0.026551 interest might buy him some books and approaching this accordingly. I have no sense of the scope of what this interest might be worth but my sense is books…not tuition. Any sense how close I might be on that?
I can tell from reading a lot of posts on this forum you put a lot into helping others get started navigating this fairly complex subject. I appreciate it.
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