Stipulation of interest and cross conveyance


#1

if someone won’t sign a stipulation of interest and cross conveyance document, can anything be done to have the oil company release the suspension?


#2

Usually a stipulation of interest is signed by 100% of the owners of specified minerals to clarify disputed ownership. This is done where there were conflicting title documents or claims and as a result the title is in question. An oil company is not going to pay anyone with respect to the portion of minerals where there is a title problem or dispute. You should gather the relevant deeds, leases, correspondence etc, along with the document you are being asked to sign and have them reviewed by an oil and gas attorney who understands title in Oklahoma to be sure you understand exactly what is involved. And to make sure that the wording in the document is appropriate. I am assuming that the term “cross-conveyance” is in conjunction with the stipulation to mean that all parties are combining and exchanging the minerals to get to the final ownership within the entire tract and that it is not referring to leases and a unit agreement. However, that depends on the exact language in the document and Oklahoma law.


#3

I have mineral interests in grady county oklahoma. My more specific question is if one party will not sign the stipulation of interest are there any avenues to pursue to get the oil company to release their suspension on my mineral interests. Specifically I have 4.22 acres and the individuals in question have 1.8066 acres. 7 of 10 individuals have executed the stipulation of interest. The 3 individuals not signing each have .6022 acres.

Thanks


#4

You need advice from someone knowledgeable in Oklahoma law. Possibly you will need to file a lawsuit to get attention of the 3 uncooperative owners. This is a very unfortunate situation.


#5

I agree with TennisDaze. Unforunately, the oil company will not release the income in suspense until it is solved. If they will not sign, the only thing you could do is fight it out in a court room, or offer to pay them for their minerals, just so you don’t have to deal with them, and have their minerals quit claimed to you.