I'm considering selling my interest in the mineral rights to the oil well on the Niobrara Shale . Noble contacted me Aug 15th, and I was told I'd receive division orders and was asked to sign and send them back as soon as I'd read and O.K.'d them. I waited a month and tried to call and have received no reply to any of the three calls I've made. Since then I've been notified that they are digging a second well, close to the same location, and notice of a pooling order hearing. I could be 80 before I see anything from this deal.
I'm 71 and my health isn't the best. If there is anything to be gotten out of this "inheritence", I want it sooner rather than later.
I'm asking if anyone could recommend an honest company or individual who might be interested in buying my mineral rights to one or both of these locations.
I wonder why you want to sell your mineral rights? Do you have children and/or grand children you can pass your mineral rights to? I would not sell my mineral rights- You may want to find an attorney that deals with oil and or gas issues, real estate, or mineral rights. You have more control over your land and what occurs on/under the surface if you keep your mineral rights. When it comes to drilling activity for gas or oil, the process takes time, so you need to understand that- there is so much paperwork. But, I would clearly find a licensed attorney and find out your legal perspective. Don't sign anything until you have legal counsel.
Ms. Whitson, If they are drilling a new well on the same lease it shouldn't affect the division from the first well. I know the frustration level is high but I would wait at least 6 months to see if things work out. You probably could sell your interest for a little more than how much money you have coming right now anyway but do you really want someone to buy your interest from you with mostly your own money and then they get to profit from both wells until they run dry? The wouldn't be drilling the second well so soon if they hadn't found something substancial. I don't say never sell, only you know your own needs. I'm just saying you should take the time to research your options and if you still aren't getting royalty do what you think best. Good luck to you.
Thanks for the fast answer. I know how slow the oil companies can be, but there is no valid excuse for Noble moving this slowly. I'm not inclined to leap before I've looked very carefully. However, at 71 I don't have 10 years to play games with Noble. If they didn't want to stir me up, they should have indicated that the process would take quite a while.
The man I spoke to said, "You'll be receiving division papers in the mail." He emphasized that I should check them over (with an attorney, if I wanted) and send them back immediately. "You'll be receiving a royalty check for 8 months (that would be for January 2012 to August), then you'll receive a royalty check, monthly." There is nothing ambiguous about what I was told.
If they weren't sure of what they could and would do, they should have left me alone.
I won't act precipitately, so nothing is going to be done within the next month. But, I won't call Noble, again.
My mother, her two siblings and their mother were the original holders of the trust from which I received the oil and gas mineral rights . The trust was drawn up in 1951 and for the next 60 years I don't think anyone even dug a post hole on it, let alone an oil well.
I believe that my older sister, myself, and one cousin are the only first generation children still alive and holding mineral rights. These "mineral rights" were a family joke for 50 year. I have two daughters 54 and 14 years old. I'm more concerned about my youngest daughter, now, than possible grandchildren in the future. My mother always said, "Never sell your land or mineral rights". But I'm living in the now, and I'm not sure there's a reason to hang on to it.
Kathleen - If you're interested in selling your minerals, please send me an email and we can discuss further. My email address is lhbvc@yahoo.com. Thanks.
My name is Erik and I'd like to discuss some things with you about your minerals. I work with a partner, an attorney, in Oklahoma City and we are very interested in speaking with you at your earliest convenience. Please email me privately at vaniiconsulting@hotmail.com and we get you a phone number to contact us.