Managing Your Oil & Gas Mineral Rights
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- เผยแพร่เมื่อ 5 ก.ค. 2024
- Let's talk about managing your oil and gas mineral rights. We will talk about what documents you need to keep, how to organize your files, putting details into a mineral management spreadsheet, evaluating mineral management software, conducting a monthly royalty audit, and finally, if all this is too overwhelming, we will talk about outsourcing the management of your minerals.
Read more about managing your mineral rights at bluemesaminerals.com/mineral-...
DOCUMENTS YOU SHOULD KEEP
* Title Documents (deed, affidavits, probate, etc)
* Oil and gas leases (current and expired)
* Sample royalty statement
* Division Orders
HOW TO ORGANIZE YOUR DOCUMENTS
There are a lot of ways to organize your documents, but we recommend keeping original documents in hanging folders and digital scans in the cloud.
A lot of people organize by legal description:
* State, County
* Section, Range, Township (PLSS States)
* Section, Block, Abstract (Texas)
* Tax ID numbers (more useful in PA, WV, and OH)
MINERAL MANAGEMENT SPREADSHEET
It is a good idea to keep the details in a mineral management spreadsheet. You can make your own or download our free mineral management spreadsheet and modify it to suit your needs.
bluemesaminerals.com/wp-conte...
MINERAL MANAGEMENT SOFTWARE
There a lot of options for mineral management software. It's worth doing a walk through with each company to see what they offer - sometimes this gives you new ideas about how you should be managing your minerals more efficiently.
When evaluating mineral management software, keep the following in mind:
* Document storage
* Visualizing tracts, leases, and wells
* Royalty income and deduction reporting/trends
* Recon (what's happening around your interests)
ROYALTY AUDITS
Each month you should be checking your royalty checks to make sure the decimal interest matches your division order, the deductions are correct, and the volume matches what was reported to your state's oil and gas regulatory agency.
MINERAL MANAGEMENT SERVICES
If all of this is too overwhelming, you may want to consider outsourcing the management of your mineral rights.
SELLING YOUR MINERALS
Some mineral owners prefer to sell their minerals. Sometimes they have no heirs or the know their heirs won't be good mineral managers. If you are interested in selling your mineral rights, we recommend you get offers from multiple companies.
Request an offer for your mineral rights:
bluemesaminerals.com/
Sell your minerals with confidence - Blue Mesa Minerals is accredited with the Better Business Bureau (BBB). Check out our rating at: www.bbb.org/us/tx/plano/profi...
hi I am just getting interested and doing prelim research on Minerals - I tried clicking the mineral management spreadsheet link and it no longer works. Is there a chance you would be comfrotable to repost it or send it my way? If not and it's proprietary I completely I understand, but if you can I truly appreciate it !!!
Hi Blue Mesa Minerals, thanks for this, great information. I have land in Texas and I'm checking the RRC GIS, but I don't see anything to click on at my site. Does this mean there are no leases whatsoever? Is there another way to check to make sure I'm not missing out on royalties?
The RRC is the best source for Texas. Are you using the map to locate your legal description?
Pumping nat gas since 1920, 100 years. Like to pump the crude oil.
That's great. Not all mineral owners get revenue checks for 100 years! A lot of today's shale wells won't produce for more than 10-20 years.
Oh yes, we are still going strong at 100 years...life is great👊
@@SyzygyStardust What state and county are your minerals located in? I'm always curious to see what areas are producing for so long.
Eastern KY. Onedia.
We had heard for 60 years that our great grandfather secured Mineral rights in Texas with the intention of providing for his children. We never thought it was true but recently I received a Fed Ex package with a an offer to buy these "mineral rights" for a very small sum. Do you have any advice on how I might investigate these rights to determine if there is true value in them ?
The best thing to do is hire a landman to research it for you. That way, you know what you own, the true value, and if the "buyer" knows something you don't (such as having royalties in suspense that they don't want you to know about).
Thank you so much. That is exactly what I needed to know ! @@BlueMesaMinerals
I need a lawyer to negotiate a deal
You can google the state where the minerals are plus "oil and gas attorney" and it should come up with a list of options for you.
Attorneys like to charge you for someone else's work. thats all they do is pass on infirmation, then send you an invoice. I've bought and leased minerals for a couple decades without the help of an attorney. There are boundaries, a person just sticks to them. If you're selling, I may be interested, check with Angus Oil LLC in Roswell, NM. No one knows it all.