forced gas royalties, for unleased land, well drilled
my MIL has an 1/5 acre lot in Keithville, Barron Rd, that was never leased.
A gas well was drilled 18 months age, about a mile away, the maps show the horizontal directional goes right under her property.
So, I am thinking the well should have paid off by now. How do we find out about royalties. I think she has already fortified a yrs worth of 1/4% royalties, that all the neighbors have gotten. They started getting checks Jan. this yr.
She is so deaf, she must have been unable to understand, on the phone, the landmen leasing in that area. She does not live on the property.
If there are any suggestions that might help her, please post them. I know it would only be a few dollars, but her bank account is running dry.
In fact if someone thought it was worth while, I think she would sell the little house, property, and mineral rights.
snsix@hotmail.com is an email address you can reach me.
Or I will check back here for advice
thanks
A gas well was drilled 18 months age, about a mile away, the maps show the horizontal directional goes right under her property.
So, I am thinking the well should have paid off by now. How do we find out about royalties. I think she has already fortified a yrs worth of 1/4% royalties, that all the neighbors have gotten. They started getting checks Jan. this yr.
She is so deaf, she must have been unable to understand, on the phone, the landmen leasing in that area. She does not live on the property.
If there are any suggestions that might help her, please post them. I know it would only be a few dollars, but her bank account is running dry.
In fact if someone thought it was worth while, I think she would sell the little house, property, and mineral rights.
snsix@hotmail.com is an email address you can reach me.
Or I will check back here for advice
thanks
Views: 109
Replies to This Discussion
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Permalink Reply by LesterG on
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join the unleased mineral owners group... read UMI basics by Calliente....read it again...read it a third time.... write the appropriate letters to the oil and gas operator drilling on her land, have your letters notarized.... send them certified mail.... wait your time.... get her check in the mail for 100% royalty minus law allowed operator costs...
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Permalink Reply by Henry on
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Would you be willing to post the section-township-range of this well? We can look on sonris, and get some sense of whether or not the well has paid out by now. At today's gas prices, it is possible (probable?) the well has not paid out yet.
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Permalink Reply by Dion Warr, CPL on -
Gordon:
Royalties are created by an Oil, Gas and Mineral Lease. Once the well pays out, your MIL would be eligible to receive revenues (proportionate share of the net profits from the well, less direct well costs and reasonable charges for operating costs and supervision).
Agree strongly with the advice posted above: read Kathryn's UMI Basics, and be prepared to write some letters sent certified mail to obtain statements, AFEs, and quarterly accounting of the well.
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Permalink Reply by Mac Davis on
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If she'll listen to you, impress on her very strongly not to sign ANYTHING. Don't cash any checks, etc. If anyone wants to talk to her, tell her to have you show up and be there during the discussion.
Have her talk to you first. There are lots of snakes in the business who are really good at cheating old, deaf, or inexperienced people.
Even if it's someone who, in general, knows to ask for advice from loved ones, the snakes are very good at tricking them into signing an agreement. In particular, they like to send checks that she will think is a royalty payment, but in fact it's an agreement to sell her mineral rights.
Find out if she's received or signed anything and tell her to be sure to save EVERYTHING.
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