I've tried to find out as much information as I can but now having to reach out for help. I've tried to go direct to the oil companies but haven't heard back from any. A broker is trying to get me to pay a lot of money to I'm being informed that I'm needing to prepare a lot of information (at cost) title examination of the patent of the property until present time, title researches, mineral interest reports, land owners report, API numbers of wells, depths that they've been drilled to, appraisal district maps, showing formations that are active in the area from the latest geographical information, title abstractors report, certified tax statements on minerals and on surface taxes, non-production affidavits, OPR, DR, PROBATE, DISTRICT.
Where do I go to find out past production information and past leases held?
How do I find out about past tax liens on the minerals?
Did y'all find this necessary to do to get a lease, was it in your best interest to do this? Did you do this? Is there anyone out there who was able to go to the bigger oil companies say a $30M project, or did you have to go through a broker / landman / someone to get to them.
Any help would be greatly appreciated. Knowledge is power! THANK YOU!
I was called by a landman, he made me a offer, but my deed was still in my late husbnds name.I was advised by friends and family that I should consult a lawyer. I found a lawyer in the county were my mineral rights are located. He filed the probate, got me assigned as legal representative and also got me a little over double what he landman offered. I would advise you to do the same for your own protection, because the lease contracts can be very tricky
I won't say it must be but if the landman is working for someone else, it sounds like he is trying to get paid twice, or he is not working for anyone at all and things are slow for him and he is trying to scare up some work.
Do you have it in writing from this landman that you need all this, or did you hear it in a phone call?
Have you actually seen a lease? Before I spent a significant amount of money I would want to be sure that there was a lease at the end of it.
I would say that most people do not have to do or pay for all that you are being asked for, at least not until the lessee's title opinion says there is something wrong. Be very cautious.
I agree with Buddy's opinion. A Land Professional does title searches and certifies and cures chain of title as part of their assignment by an exploration company in leasing a prospect. The information that you are being asked to put together would certainly be helpful and the more knowledge you have about past and present title and leasing/drilling activity, the better you are able to discuss a tract of acreage with a exploration company.
Since you state in your post “I've tried to go direct to the oil companies.…” I assume you have gone to a broker to have them get your minerals leased to any oil company they can (something I have not done) then they may want this list of information from you.
When I have been contacted by a landman and offered a lease your list is items I have never been asked to provide.
After being contacted by a landman I only confirm my mineral interest in the tract legal description they want to lease. I then volunteer to them the information I have about mineral history ownership of the property including the volume number and page number of the court house document number transferring it to me and any other documents in the succession of ownership as far back as I know of.
Your list is the type of things that the landman researches (at their cost) to determine if I am the correct person they are looking for to make a lease with.
I hope you haven't signed a lease. If you have signed a lease and the lease stated that your would guarantee the title, you may have to pay for some of these items. No mineral owner should sign a lease stating they will guarantee a title even if they have researched it and think it's clear. I have seen several leases lately with the clause that you will guarantee the title. DO NOT SIGN.
I agree that the advise you have been "given" appears to smell & it's not a good smell. More details on how this advise was obtained may help define the smell?
IF you believe your minerals are worth $30M AND you are trying to actively lease them, you should consider hiring a geologist & engineer to study your acreage and, if prospective, prepare the information needed to present a development prospect to present to an oil company operating or wanting to operate in your area.
IF you are asking how to lease your minerals for oil/gas development, it's always best to wait for a landman to contact you @ which time you will know a development idea is heading your way. When or if it comes your way NEVER take the 1st offer. Unless your minerals are time dependent, time is on your side.
Can anyone tell me where I should go to see if any activity is going on in the surrounding area of my land in Karnack, TX. I'm thinking I need to go to whatever the county is? Which I think is Harrison County. Also, this land (Mineral) is still in my Dad and Mom's name left to the "Heirs" (my brother and I), do we need to get signed as legal representatives if we want to lease or sell?
How did you guys get a lease from the oil companies? Did they approach you are you them?
The operator, ExxonMobil, at Gladewater Gas Unit #5, 1 & 2, drilled a discovery well on my land in Upshur County and had to cure the title because our deed went back to 1870. It unitized our land in 1980 and it is still producing. The Texas Railroad Commission is a source of county wise information on production for oil and gas.