This might have been covered in other threads, but here goes.
I'm about to acquire 1/2 ownership of 112 acres in Stephens County. A while back, my dad was corresponding with a man. The letters that I have come into possession state that we have 5/112.9 mineral acres.
#1. Does this mean that we have a total of 5 geographical acres of mineral rights out of the whole 112.9, and if they don't drill on those acres, then we don't get anything? Or, do we get 5/112.9th of the royalties?
The answer to this will determine how I ultimately divide the land with my uncle, who will be getting the other 1/2 of the land. He has expressed no interest in the land and said that he will probably be inclined to sell the land to another family member.
The man is suppose to be sending me all the information that he has on the property including according to him, the most idea places to drill. Is there a place that I can research this information as well just to cover my bases? He said that he's 82 Y.O. and starting chemo treatment, so if he never does anything, his interest might die with him.
I don't really know what questions I'm suppose to be asking at this time.
Thanks for any and all help.