Warren Resources

jThis may end up just being a sound off, but I believe Warren Resources did my Mother’s heirs an injustice. I have been trying to transfer my mother’s interest in the Wilmington Field for quite some time. I just get either really confused or think I can’t possibly have the money to pay for this.

Meanwhile, before Warren’s bankruptcy, there was over $14,000 in suspense as of 2016. Evidently, it was ok for Warren to take our money in the bankruptcy because last I checked with them, I believe a year ago, the money in suspense was only a little over $300.00.

Anyone else have the same experience? And is transferring the interest that expensive? I live in Texas.

DM is right, it is difficult to transfer mineral interests in some instances. You may not need to do a full probate, however. Sometimes the expense of transferring costs more than the current monies being obtained from royalties. But, if you do not do it correctly, they can continue to hold the money in suspense. In addition, if another oil company were to obtain the lease it also would not have proper documentation to send you the money. Thus, if you do not properly transfer the interest you will eventually lose it. The cost to transfer it will depend upon the current state of title.

Not seeing how to do the PM