Have a really small non producing land plot (13 acres) in Canadian County Ok that got an offer to sell the mineral rights. If anyone knows the business would appreciate some sage advice or imput via DM. Thanks
I would check with someone who really knows Oklahoma law. I believe Oklahoma can force all property owners in a common source to unitize oil/gas production into 600+ acre units. I haven’t done oil and gas since I was right out of law school though, and I’m completely unfamiliar with it now.
Parents had some recreational land in WV that had mineral rights sold off decades before they got it. It was grandfathered in the owners got free nat gas which was nice and a couple of the neighbors back in the sticks just had gas powered generators and were off the grid, however they can kinda decide where and when they move through your property, run new lines, etc.
If you sell the mineral rights it’s fine, if you sell the land and maintain your mineral rights and somebody wants to permit it for oil, you will inevitably have someone get a shotgun pulled on them for coming on their land. Source: Me, who had multiple guns pulled on him.
Side note it’s hilarious in the mountains of West Virginia there’s just gas lines running on top of the ground, hung up on trees, fences, etc. you’d smell gas and find a hole in the line and call it in and they barely gave a shit.
I know a guy who is an expert in this field in west Texas Not sure how different the laws are up there in yankee land, but I would be willing to ask
Do you know a bunch of people with neighboring tracts of land? You could pool together to negotiate better terms, but pretty much this
Have you considered putting a monorail on the land instead? I’ve heard they put them in Ogdenville and North Haverbrook
There’s a poster whose name is something about West Texas O&G. Either he’s a huge poser or he could help.
I work west Texas but have done some Oklahoma work. Feel free to DM me. I own a small bit of minerals in Canadian County
Someone called my 75 year old mother out of the blue about 5 years ago and offered her 5k for some mineral rights she owned in Loving, TX. She was about to sell, and I asked her to hold up while I found a lawyer in Loving. Quickly, we found out it was producing as part of a unit. Fast forward five years later, and she has collected over $175k from the rights. Any way you can lease instead of sell? I would be worried that they want to buy bc they know something that you don’t.
Thanks for the concern. I'm not going to rush the sale and take a lowball offer. Was just getting advice.
The cool thing about mineral rights is the sun makes it so you can just add a solar field on your 13 acres and not wreck the world.
Lot of companies will lease and pay yearly. It’s also easier to sign over if they sell off the line to another company.