I received a call today from an acquisition company on mineral rights I co-inherited. They have offered 5k/acre for 10 acre mineral rights in Garvin County. I have no paperwork on this and did not expect this inheritance. Can I get some advise on who to contact for advice on selling, etc. The company making the offer is DT Resources. Thanks!
The first thing you need to do is get the inheritance straightened out.
You also need to find out where the acreage is in Garvin and then find out what activity is there. You may have back royalties due you or planned drilling. Anyone who offers to buy is pretty sure they are going to make a profit off of you at whatever price they offered. They either want those back royalties or the future royalties of the current or planned drilling. Always good to slow down a bit and find out what is going on. Then you can decide if that price is sufficient or if you want higher or if you want to hang onto the property.
Thank you! I have the coordinates in Garvin Co Section 9 2N 3W. Once I receive paperwork I will thoroughly investigate. I would like to know everything before I move in any direction.
You have a well called the RIDDLE 1H-9XX which is a very long well. Surface location in section 28, goes north through 21 and then through 16 and then partially into 9. Been online since 2015, so may be some back royalties that you need to claim as soon as you get the inheritance settled. The well operator is Newfield (Encana). There is the possibility for more wells in the future. Section 8 looks like it has nine wells.
Can you tell which part of Section 16 is involved? If it comes through Section 16 would there be royalties involved for owners in that area?
100% of section 16. Anyone with royalty in Section 16 will receive revenue.
Section 16 Township 4N Range 2W
Marilynn- I was referencing 16-2n-3w.
We have full minerals on 40 acres in section 16: NE4 of SE4. Is there a possibility on this part of section 16??
What Section 16 are you referring to?