Where do you advertise your mineral rights for leasing?


#1

So, we have a few wells that are producing in carter county but have mineral interest in other parts of carter county as well. Can I approach a company about leasing or do we just wait for them to contact us?

Thanks


#2

It depends. Make sure your CURRENT name and address is currently listed on the deeds filed at the County Clerk’s office, AND INDEXED for each property you have an interest in.

If there is interest in your area they will find you if your info is there. But, you want to look and see who is leasing to make sure you get the best deal.

You might want to lease early in the activity hoping for expiration before drilling has occurred. I have extended family members that least 3 times during the times I leased 2 times before drilling occurred. In this instance, however my total of the 2 was WAY over the total they were paid for 3 leases.

If there is not interest in the area, you may find someone to lease, however it will be on speculation basis. A year later the lease may be worth 5-10X what you were paid.

Every situation is different.


#3

Hi Rick,

Turns out that our address is not correct on the deeds in the clerk’s office. We moved three years ago and forgot to update them. How do I get this updated?

Thank you for your help. Laura


#4

You need to type up a simple document showing your old address & new address along with your phone number (if you choose to), and the legal descriptions for each tract of land in the Sections that you own in. Sign it, have it notarized and mail with recording fees to Carter County Clerk. Fees are $13.00 for the first page and $2.00 for each additional page. Your Affidavit shouldn’t take but 1 page unless you own a lot of properties.

Todd M. Baker


#5

Thank you Todd!

One more thing, what is the difference between updating the contact information on the deed and indexing (something Rick mentioned)?

Thanks, Laura


#6

You can’t actually update the contact information on the existing deed. Todd gave you the correct procedure. An affidavit of address change, or affidavit of ownership with the legal descriptions. The clerk will index the document based on these descriptions so that someone looking for ownership in that area will find that document. After it has been processed, I recommend double checking by searching online on okcountyrecords.com to see if it shows up indexed correctly. That does not prove it was written in the index book itself, but gives you a somewhat of a confirmation it was indexed.

I have personally found some that had a few descriptions that were skipped.


#7

Thank you Rick! We’ll certainly file the update now.