@hollym Unless you previously executed some type of NDA, that NDA language is most likely is not enforceable. They have to disclose the same information in a forced pooling. Unless you have a great amount of experience in this industry, you should be cautious in considering participating in the drilling of a well. Work on getting the best OGL terms. Good luck.
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I too was approached by black well and offered 3000 for my interest in my mineral rights . Sec 23 t 8 r 59 s2 itâs 1.25 acres of mineral rights possibly another 1.25 not sure yet. My brother sold but I holding out hoping for something better! Is somebody active in the area. Any help would be appreciated.
23-8N-59W. Morning Gun had quite a few horizontals planned for section 14 & 23, but they were cancelled. Bison Operating just drilled six wells in 15/10, so activity in the area. Someone may come back and drill in your area is the geology is good. quite a few permits in that township.
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So I signed an agreement to sell and they sent the deed to sign but Iâm not wanting to sell now. I didnât then either. The agreement was to sell to Blackwell but the deed is to sell 95% to them and 5% someone else. Now they are saying Iâm bound and have to sell. What could they do if I donât return the signed transfer?
You should consult an attorney. If you signed an Agreement to sell that is a contract.
The first point is you executed an agreement, probably a PSA, indicating you did want to sell under the terms of the agreement. Depending on the value to Blackwell, you are in a precarious position. If your only other objection other to not wanting to sell is the additional Grantee, then Blackwell can easily correct that. If you want to fight this, then potential consequences are legal fees for defense, legal fees for Blackwell, and damages. Consider your options carefully and consult with legal counsel prior to electing not to proceed under the terms of the agreement.
Do the people that contact you have to tell you how much minerals rights you have or they are wanting to buy? And on the original deed it says 1/8 on 320 a. More or less does that mean 40ac. And how many ac. In a section 320?
Also when they approach me it was in regards to being a heir of this name I didnât know so I was curious. It happens to be my grandfather s sister I donât know what that amount is! That being said black well now have said they will drop the name of the 5% off , and the name of the grandfather s sister . Itâs the same land description though.
This isnât legal advice obviously, but I would tell them to pound sandâŚthat youâre not going to sign the deed, period. That you didnât know what you were doing, yada yada yada; whatever the reason, and that you changed your mind. It doesnât appear that theyâve filed the agreement, but in my experience there is no conveyance language in there. Ask for a release or just have them send the agreement back to you. The other 5% is owned by an employee of the company so thatâs neither here nor there. You do need to be certain that you are not conveying after acquired title i.e. the additional acreage you mentioned that would come through an estate cleanup, unless that is part of the deal and you are compensated. If they bought your brother, they may even carry you through the cost of probate. Hope it works out for yall.
The transaction can take many forms. One can state a specific interest for the transaction which may be the mineral acres to be conveyed or the fractional interest in the tract. The other may be all of your interest in the tract without regard to any specific net acres or fractional interest. Both are acceptable methods. The âmore or lessâ refers to the gross acreage, so the 1/8th would equate to 40 net mineral acres if the tract is 320 acres.
Blackwellâs agreement to drop the 5% would seem to adhere to the PSA. As to the grandfatherâs sister, that would seem to be an entry to try and clarify the chain of title. Again the removal, would seem to adhere to the PSA.
Be cautious before you attempt to not follow through with the PSA conditions. I suggest you consult with an attorney on the matter. A brief consultation could be money well spent in the event that Blackwell attempts to enforce the PSA.
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Thank you for your time in answering. Itâs 5 nma +.75 from the sister. And they are letting me out. So time will tell itâs already been 15 years.
Great lesson for all mineral owners. Be professional and polite, that provides the opportunity for positive things to happen.
True that! Thank you!
So I guess I jumped the gun w them letting me out, darn. He wants to file a notice of intent and cloud the title or pay me 5000 for all my interest. If the deed doesnât say my grandpa s sister on it can they still probate it or can I wait n do it later? Thank you for your time!
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