Oil & Gas Leases - What a complicated thing

[imbatman]

Yikes what a whirlwind you went through. I went through similar as relative had a number of mineral rights in various states. Most companies required current information to be on file in the county of the property before they would release any payment. All counties requested a probated will in their state (sometimes County) before they would process any ownership changes. No effing way. Luckily *most* counties will also accept an Affidavit of Death and Heirship if you ask them but will not volunteer that information. Even if you do have what they want, you then have to pay about $50 per county to put the documents on file....so good to make sure you will ever EARN $50 on the property.

Regardless, looking for unclaimed funds (which these would eventually go to) is a worthwhile endeavor for everyone. I would use the state sites where your family lived first and look up multiple versions of your family member's names, but these are great for general searches also:

https://missingmoney.com/en/

Search for your unclaimed property (it’s free) – National Association of Unclaimed Property Administrators (NAUPA)

The nice thing is I have found most states are willing to send you the reimbursement without such onerous paperwork or fees (although once you file more than once for the same property, many will tell you no more and go update the county paperwork).

 

[YellowSubmarine]

FYI EOG is buying Encino.

Hope you wells come online and have strong production for you.

If you don’t mind me asking, what is the going royalty % in the Utica?

..." the going royalty % in the Utica" I find it hard to decipher that information; however at the bottom of my monthly statement it states: Interest Types: 2 - Royalty Interest.

Update: I guess the wells were on line as I suspected and I was simply given misinformation ...no issue. I have received the equivalent of five royalty check thus far - @ $800 appx. I was told unofficially by a State worker that this area is the Saudi Arabia of the fracking industry -we'll see; but sounds good to me.

 

[dobig]

..." the going royalty % in the Utica" I find it hard to decipher that information; however at the bottom of my monthly statement it states: Interest Types: 2 - Royalty Interest.

Update: I guess the wells were on line as I suspected and I was simply given misinformation ...no issue. I have received the equivalent of five royalty check thus far - @ $800 appx. I was told unofficially by a State worker that this area is the Saudi Arabia of the fracking industry -we'll see; but sounds good to me.

Exciting stuff YellowSubmarine.