Hello All. New here. Wondering if anyone here has dealt with a similar issue. I am needing to arrive at some sort of “ballpark” lease value to complete some information for my probate attorney here in Florida. My mom recently passed and left me some mineral interests in Garvin County.
I tried using the tool on the Pecan website here, which seems promising, but I am striking out as far as entering the correct information the tool needs.
I have the legal descriptions of the tracts/areas, but head is starting to spin here. Does anyone in a similar spot know of any simplified online tools to obtain a basic mineral rights appraisal?
Thank you!
P.S. It looks like the URL I posted was scrubbed out by admins, but I was referring to using the valuation tool on Pecan O&G website which I found here in the forum.
Call the phone number listed for Pecan in the Directories tab above. It probably wants a section, township and range. You may need a leading zero if the digits are single.
You may have tracts that are producing and some that are not. Even if not producing, they are probably not worth zero. They can walk you through how to fill it out.
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Condolences on the passing of your mother.
An old ballpark number used to be seven years of gas payments and four years of oil payments, but that was for vertical wells. Horizontal wells do not decline in the same fashion. The forum may be able to help with activity in your tracts and what wells to find. The heirs will need to inform the operators of the change in title. They will also have to file changes of address and title in each county where the minerals are located once the probate documents are filed. You may also need a foreign probate in OK after the Florida probate is finished.
Hi. Thank you as always for your expert input. I have already completed the necessary affidavit of heirship paperwork with the Garvin clerk’s office and the two operators who hold leases on the tracts (there are two: one called “Samedan” and the other “John Kent”). Only the Kent well is really producing anything lately. The operators are Rimrock and Daylight Petr.
I guess my question would be whether or not there is any feasible chance that someone new would come in and drill again in the Samedan tract especially. The folks at Daylight told me last week they are not inactive, but definitely “diminishing”, according to them.
These are SAMEDAN 01-16, SAMEDAN 02-16, SAMEDAN 03-16.
Thank you!
Hi! I’m the owner of the Pecan Estimate site! Sorry I missed this post earlier. Yes, we’d be happy to help you get set up. We’re still working on adding tools to help folks find and enter the right info and in the meantime we’re happy to assist building in tracts as needed. I can’t post links either but feel free to email me directly or use our support form on the site.
Hey There. Awesome. I will reach out. Really appreciate the reply. The tool on your site is really cool, I just think it’s operator error on my part still getting used to the “lingo” involved in the tracts, areas, etc. NW this and SW that, etc, etc. Hahaha. I’m in Key West…very far removed from wherever these dusty acres are located in OK. I will email you directly. Thanks!