Bought some property with minerals that had unleased mineral owner
Recently purchased property with minerals. Owner gave us his owner no. & said he was unleased mineral owner. I asked him if he had sent in his cert. letters notifying Chesapeake and no he didn't. We close the deal and he died within the month. I sent in cert. letter saying we were new owners etc.That was 4 months ago with nothing but receipt of my cert. letter. I contact them today and they tell me they put us as owners in Oct. I said I want my money (maybe not that direct lol) and they said the well hasn't paid out. Since I also have leased minerals in same section, I KNOW the well paid out. I tell the nice lady that who says then you need to contact our payout dept. I ask her can I now lease since they are getting ready to do CULs in that area. She asks a co worker who says since this property was "force pooled" we can never lease and will always be unleased mineral owners on ALL wells drilled in that section. Thanked her for her time but I think she is wrong. OPINION from others needed
Views: 1373
Replies to This Discussion
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Permalink Reply by Skip Peel - Mineral Consultant on -
Good information. I think it deserves to be a separate discussion thread on the Main Page so more members will see it. Thanks for posting, KCM
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Permalink Reply by George R Gaut on
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Why is it that we are continuously given information that doesn't let us know where the mineral properties are located and who has them leased? Are we talking about TX, LA, WY, etc? Why are we getting reports that are so empty they're of no value to us? What's the deal? G R Dick Gaut, mineral owner in Smith, Cherokee, Rusk & other counties, TX
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Permalink Reply by Skip Peel - Mineral Consultant on
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George, sometimes those of us who have been members for a long time know where someone's minerals are located and sometimes information given identifies the state without stating it plainly. In this example when you see CUL that's a Louisiana term. In TX the same kind of well would be a PSA or some other term. As there are significant differences it's always good to provide context but sometime we forget. We don't mind being remind from time to time however. Just ask.
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Permalink Reply by kittycatmama on
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@George, the minerals I was referencing above are in Louisiana. Guess I am a creature of habit and forget that there are mineral owners in other states (myself included) LOL
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