We noticed we had unclaimed property from an oil company last year. They had our correct address, but we never got anything from them asking to lease our mineral rights. We’ve had the same address and phone for 10 years. They said they sent requests, but we know what they look like and we never got them. Other oil and leasing companies have had no problem reaching us by phone and mail. We ended up in pooling and I have requested the pooling terms, but they are dragging their feet. Any thoughts on how we should proceed and what we should be aware of?
Matt,
Where are the minerals located? This is a big country.
Matt's home page says his minerals are in Oklahoma. I wonder how it would work if one was missed in a pooling? It must happen sometimes. Does one still have the right to participate? Or does one have to make, or is one even allowed to make a pooling option?
Matt,
You can pull the pooling order and notices from the OCC web site. I'd look over the notices but your probably stuck with it unless you hire an attorney. They normally give you the highest amount of bonus monies and the lowest royalty which is almost always a 1/8th.