My wife and I recently found out that we have inherited an acre or so mineral interest in Payne County, OK, Section 28-19N-3E (contains 160 acres). We found out about this as Calyx is wanting us to lease it. The calculations of our mineral interest by the landman that contacted us seems to be a bit convoluted, and the fact that OK is a "race state" is a factor (i.e., timing of the recording of some of the deeds affects the calculation). Should we trust that landman's calculations, or should we have someone else verify it? Given that our interest is not that big, it might not really make that much of a difference, but I'm curious what the general recommendation is.
Thanks,
David P.
You might start by going to the county court house and looking up the deed yourself.
David,
You could ask Calyx to provide you with your chain of title. They are not obligated to, but they might if they want your lease. Ask the landman to come out and go over it with you. He might. Most likely the calculation is correct. If it isn't, the title opinion will catch it when they get ready to drill or distribute revenue. If the difference is due to the order of recording of instruments, you could try to get the other owners to sign a Stipulation of Interest stating what each of you own.
Do you know where this (your interest) would have come from? Do you have an abstract or a family member who has one for the same/adjacent property? Maybe you could read it to get an idea of what you might own. It's worth checking out because Devon has hit a 'barn burner' of a well just a mile south & a mile west of that. I saw one document that said almost 750 bbl oil/day from the 'Jardot 6-7 18N 3E'. Had someone else tell me today that the other one was well over 100 bbl/day. They supposedly were drilling a disposal well when they hit oil.
Do you know the, "Physical Address" for this particular well 'Jardot 6-7 18N 3E'. I have mineral rights to it and we would like to know where my family property is actually located :)
Thanks.