Replies to This Discussion

Oil & Gas ProPermalink Reply by Ben Elmore on April 26, 2011 at 5:29

You can hire a good landman to do the research for you.  Not as expensive as us attorneys. 

landownerPermalink Reply by SLEM on April 26, 2011 at 5:48

Thanks Ben.  I have worked with a few of those guys in the past, but did not even think to hire them as a potential resource in helping sort out this matter!  Appreciate it!

Permalink Reply by William Gardner on April 26, 2011 at 5:57

I agree with Ben, but add to that you want to know

1.  If the tract is in a unit and who the producer is

2.  What YOUR net mineral interest is per

 

Also, understand and set you price up front.  Most landmen charge a day rate plus expenses.  Even though they are not as expensive as an attorney, over 10 counties their will be a cost involved.  If you are a mineral owner and the tract is in a unit, then you'll have to start another set of negotiations with the company.  And that may require an attorney to complete so you don't lose. 

landownerPermalink Reply by SLEM on April 26, 2011 at 6:35

I have so much to learn (and fast)!  Thanks for the info...it is very helpful.

 

landownerPermalink Reply by adubu on April 26, 2011 at 6:10

Slem----If you are administrator of the Estate you should preparate mineral deeds transferring all the minerals and royalty to yourself assuming you are the only heir and record in each county of location plus your county of record. If mutiple heirs then deeds of their prorated undivided interest. This could save lots of questions and headaches later for all. If you are not the administrator but have copy of will that results in your inherit then have administrator do same for you. If you have royalty then notify operator to transfer payments to you--- you must show documents to support your ownership

landownerPermalink Reply by SLEM on April 26, 2011 at 6:54

Yes, I am the Admin of the estates and there are several heirs.  Unfortunately, my family did not take a course in good record-keeping!! :)  I believe a bulk of the interests remain in my great-grandfather's name.  Since then, 2 additional generations of my family have passed on.  I filed probate documents in most of the counties (several estates involved) but did not realize I needed to prepare and file mineral deeds as well.  This is great info you've provided!  

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on April 26, 2011 at 8:31

SLEM, I suggest that you ask GHS member jffree1 for help with E. TX. mineral research.

Oil & Gas ProPermalink Reply by Ben Elmore on April 26, 2011 at 11:28

Agreed.  jffree1 is great.

landownerPermalink Reply by adubu on April 26, 2011 at 8:40

Slem-that what I did  when my parents died. I was administrator and I prepared deeds for myself and my brother. That was 11 years ago now all are  in each others presonal separate estate. The minerals are undivided and we are fortunate to have one producing gas unit. The Division orders with our decimal interest are separate in our names, etc. After I settled my mother's Estate and everything divided out as she directed ( deeds were prepared for all real estate including minerals to each heir-- liquid items, stocks, etc were cashed out and distrubuted) the Estate then was closed. We have some other unleased minerals but each has deeds so if landman calls each will sign their on leases terms-- yes we will talk to each other before signing to get best deal we can get but each can do whatevery they desire. If you had a attorney handle your estate or file for your letters of administration of estate then that attorney can prepare the deeds for you. Review them before you sign as administartor to make sure the property is described correctly to each heir 

Permalink Reply by Bryan Brennion on May 26, 2011 at 15:23

Do not forget to check the ShaleBiz.com site for sources of assistance.